The Lohia Machines Limited (LML) has recently announced its entry into the currently booming electric bike segment in India. The company is planning to enter the e-bike segment by introducing new electric scooters.
Even though LML in planning to enter the electric bike segment, it has refrained from speaking much about its plans in India.
The company has revealed that it will invest a sum of Rs 1000 crores in the next five to five years for its EV operations. The company is already looking up for sites in order to set up its manufacturing facility in India.
In terms of dealership, LML is planning to set up over 1000 dealerships across India. Even though the numbers seem to be too large, it might seem to be a smart decision in the future.
Even though the company has not revealed about the technical details, the MD and CEO of LML Electric, Dr. Yogesh Bhatia said, that they will produce scooters that are equipped with best of technology and strengthen urban mobility.
The news of LML entering the electric scooter segment comes at a time when India is witnessing a rise in electric scooter market. Recently Ola Electric and Simple Energy launched their new electric scooters in India. According to the company (LML), its new electric scooter will be more affordable than its competitors in the India. The new scooter by LML is expected to hit roads in early 2022.
For someone who has witnessed the 1990s in India, the LML is one of the common names in terms of scooter sales. If we look into the history of the company, LML had joined hands with Italian company Piaggio Vespa and launched many scooters. Some of the several scooters launched by the company were Select, Supremo, Vespa NV3, Star and Sensation. However, with time the company lost its sales to other brands. With this new electric scooter the company to expected to tap into the electric revolution in India.