Buzz Update Vespa Maker is set to make a comeback with the LML e-hyperbike TOU

Buzz Update Vespa Maker is set to make a comeback with the LML e-hyperbike

 TOU

Vespa Maker is set to make a comeback with the LML e-hyperbike

LML, a well-known brand manufacturer of Vespa scooters, will make a comeback in September this year with the unveiling of three electric two-wheelers and the revived company logo.

LML Electric, a privately owned company headed by Managing Director and CEO Yogesh Bhatia, has partnered with German company eRockit Systems GMBH to launch electric hyperbikes in India. These pedal-operated hyperbikes, a combination of electric bicycles and motorcycles, will be commercially manufactured in India by early 2023.

The eRockit does not have the throttle on its handlebars as seen on motorcycles and scooters. Instead, the e-bike has bicycle-like pedals that accelerate the vehicle at a speed of 80 km per hour with a few strokes. The LML branded variant of the eRockit, however, includes a pedal-assist that can assist the electric motor in user movement.

“Iraqit products are made in India for sale worldwide. LML gets the hyperbike, which is definitely not eRockit but something like that. The European model is the pedal model while the LML model is the pedal-assist. We do not use the technology used in eRockit. This is the right time to bring a very unique and innovative hyperbike to the market, ”Bhatia said in an interview. Businessline.

The two companies will form an equal equity share joint venture company, which will handle product exports worldwide and take responsibility for eRockit manufacturing. Since India offers a low-cost manufacturing base to a German company compared to its home base, India will become the global manufacturing base for eRockit.

The third product from LML Electric is the electric scooter. “On September 29, 2022, LML will celebrate its Golden Jubilee. We will be showcasing LML’s new logo as well as unveiling LML’s new products. A hyperbike, an e-bike built to US and European standards and an e-scooter. Production of e-bikes and e-hyperbikes will start in January-February and the e-scooter will go into production in August-September next year, ”said Bhatia.

Factory

In January this year, LML Electric entered into a strategic partnership with Cyra Electric, a former manufacturing partner of Harley-Davidson India – to use its Haryana-based plant to manufacture electric two-wheelers. LML is also finalizing a large manufacturing plant, which is in talks with three state governments. The plant will be available by 2024.

“The (Harley) plant has good quality equipment and robotic machines and is well suited to handle the production of our electric bikes. We start production with 18,000 per month. Separately, we received proposals from Madhya Pradesh, Haryana and Rajasthan for setting up our own plant. We are evaluating these proposals and finalizing them by the end of this year, ”Bhatia added.

New investors

LML Electric is looking to bring investors on board to fund its efforts and expansion. But as the company is keen not to get ‘low valuation’ from investors, it wants to present its products first and unveil its strategic plans before concluding contracts with financial investors.

“We have been approached by a number of investors but we are not in a hurry to bring them on board. The scenario will change after our launch in September this year. We have invested on our own so far. We want our potential investors to see our products first. No, ”Bhatia added.

Completely delinked from the previous LML, with the exception of the LML Electric brand. The previous LML, founded in 1972, closed operations permanently in 2018 after several attempts to revive the company.

Dealers

The company aims to set up franchise partners in every district of the country so they can resolve customer and dealer inquiries. Larger metro cities may have 2-3 such partners. About 750 such partners will be working.

Published

April 17, 2022

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