NEW DELHI: Erstwhile two-wheeler manufacturer LML is eyeing a comeback on Indian roads with an extensive plan to foray into India’s EV (electric vehicle) two-wheeler sector. While the company did not specify when it will launch its first product or how much it is investing to make EVs, it talked about introducing “a disruptive product to reignite the light of its old establishment with a bang”.
The company in a statement said that it is laying the groundwork to re-appear in the market with a different set of opportunities to leverage and that the brand is backed up by large investments with an investing partner.
Yogesh Bhatia, MD & CEO, LML Electric said, “We’re extremely excited to make a significant comeback. We are actively working on the product development strategies to introduce a highly innovative product equipped with the best of technology to strengthen the urban mobility space. We would like to empower the upper-middle and urban segments of society with our range of premium products to drive the change.”
The Kanpur-based company, which used to make the iconic LML Vespa in collaboration with Italy’s Piaggio & C Spa, used to rule two-wheeler market in India along with Bajaj Chetak. However, LML’s association with Piaggio ended in 1999, post which the brand could never bounce back to its previous glory.
Once the Japanese product Honda Activa disrupted the scooter market, it was game over for the Vespa and the Chetak. While LML remained visible for several years, its ageing product lineup and increasing losses forced it to file for insolvency in 2017.