the company has acquired the LML brand and intends to manufacturer electric two
wheelers for the middle class under the LML Electric brand. Both Detel and LML
will exist as two separate entities and will cater to the mass market and the
middle class receptively.
activities of LML will be carried out in a new company LML Electric India Ltd.,
which will be wholly owned by Dr.Yogesh Bhatia and family. SG Corporate will
transfer all the LML brands to LML electric India Ltd and LML Electric will be
the sole owner of LML brands.
acquired the LML brand from the Singhania family for an undisclosed amount.
With this acquisition, the LML brand with a 50 years plus legacy may just see
the light of the day again.
Bhatia said, “We’re extremely excited to make a significant comeback. We are
actively working on the 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 the change.”
in 1972, LML was one of India’s most popular two-wheeler manufacturers. In 1983
the company commenced production of 100 cc scooters in technical collaboration
with Piaggio Vespa Italy and entered into several licensing agreements.
start with LML will launch a motorbike and a scooter, the company said in a
release. The products will be designed by the best designers either in India or
abroad. Both the products will be state of the art with features to catch the
imagination of the below 30 years urban population.
products will be launched in North India to start with, i.e. Delhi NCR, UP,
Punjab, Haryana, Uttarakhand, Rajasthan,
HP and J&K. The company intends to
appoint 100 retail points who will sell and service the EVs. All EVs will have free road side assistance in
the 1st year, all bikes will have the provision of insurance. They will carry a
warranty of 1 year from the date of purchase for the vehicle and 3 years for
the battery. “We will design them for a top speed of 100 kmph and the EVs will
cover 80-90 kms per single charge,” the company stated.
part of its five year vision, the company will establish a network of 1000
dealers, and also a presence in the international market. The company is aiming
for a sales volume of Rs.5,000 crore after five years.