LML to kick start again in electric format
LML, an indigenous two-wheeler manufacturer based in Kanpur, has begun making preparations to enter India's EV two-wheeler market. In response to India's growing demand for electric vehicles, the business has announced a return to the domestic automobile market. The startup has received significant financing, and appears to be well-positioned to penetrate India's electric vehicle industry. LML's two-wheelers have been extremely popular in India, but it remains to be seen how the brand will survive in the electric market.
The Kanpur-based company, which primarily operates in the motorised sector, is building the framework for a market reintroduction. It asserts that the brand is supported by significant investment. According to sources, the management has received proposals to launch LML into the EV market from a variety of technological businesses.
Dr. Yogesh Bhatia, Managing Director and Chief Executive Officer of LML Electric, stated, "We are overjoyed to be back in action. We are concentrating our efforts on product development strategies in order to introduce the most creative products possible with the aid of cutting-edge technology, ensuring the seamless and successful mobility of people within the metropolitan population. We aspire to empower the upper middle class and urban populace by offering a premium selection of items that will alter their perception of and experience with two wheelers.”
LML was founded in 1972 and is India's most popular two-wheeler manufacturer. It acquired rapid success as a result of new era technology. The company is headquartered in Kanpur, Uttar Pradesh, and is currently focused on the motorised two-wheeler industry. The company designs and manufactures scooters, motorcycles, and mopeds, as well as their associated accessories. Previously, in 1983, the business began manufacturing 100 cc scooters in conjunction with Piaggio Vespa Italy, with whom it went into multiple licencing arrangements. The company started the motor market with a budget of ten lakhs and grew steadily for several years, launching several vehicle concepts in the process.