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One of India’s oldest scooter companies, LML, on Wednesday said it is re-entering the market in the near future with an electric two-wheeler.
The company said it has got proposals from various technology companies to introduce LML in the electric vehicle (EV) market, and is now all set to introduce a disruptive product.
Previous products
The Kanpur-based company is well known for its ‘LML Vespa’ brand which was introduced with a collaboration with Italy's Piaggio and C Spa. However, it was discontinued after its break-up with Piaggio in 1999 and a lock-out at its Kanpur factory in 2006.
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The company had commenced production of 2-stroke 100 cc scooters in a technical collaboration with Piaggio Vespa in 1983. It had also entered into several licensing agreements with the Italian brand.
New offering
Yogesh Bhatia, Managing Director and Chief Executive Officer, LML Electric, said, “We are actively working on product development strategies in order to introduce a highly innovative product equipped with the best of technology to enable and 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 change.”
The company, that operates mainly in the motorised domain, is laying groundwork to re-appear in the market with a different set of opportunities to leverage, he added.
The brand is backed by large investments with an investing partner, the company said.
Incorporated in 1972, LML had become an instant success with products such as ‘Select-II’ in the scooter segment in the early 2000s. The brand operates in one segment – motorised two-wheelers. It offered scooters, motorcycles and mopeds, as well as spares and accessories.
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