LML Coming Back with an EV
With intentions to enter the electric two-wheeler category, LML aims to make a comeback on the Indian market in the near future. LML-Vespa was sold in the 1980s as a result of a partnership with Piaggio. Previous models of LML Freedom, Adventure, 150cc Graptor and other mopeds were sold by the business. As a result of financial issues, LML ceased operations in 2017.
An official news release from LML reveals that many technological companies have approached the corporation with offers for the introduction of an LML EV.
The company is working on product development strategies. The plan is to introduce a “disruptive product for the upper-middle and urban segments of the society.”Dr Yogesh Bhatia, MD and CEO, LML Electric
Even if the announcement of LML’s return makes some people nostalgic, this is just the beginning. Over the next three to five years, the company intends to invest roughly Rs 1,000 crores. An assembly facility would be built in Madhya Pradesh and Haryana, according to the business. Plans include for opening up to 1,000 dealerships in India, depending on the demand and commercial potential of the product.
Lastly, it remains to be seen how the final result will appear. However, the business has not stated if the EV is being developed in India to its full potential. Not even their technical partners have been named. It would be nice to get some information on the company’s pricing strategy. All in all, the new LML electric scooter will have its work cut out for it when it finally enters the market in the near future. There are already TVS, Bajaj, Ather Energy, and Ola Electric in the mix.