LML Electric will unveil the concept of its upcoming three electric two-wheeler vehicles (E2V) on September 29, 2022. The rights for the brand LML were acquired by SG Corporate Mobility (SGCM) in 2021.
Besides this, the company will also unveil LML’s new look along with its strategy to enter the urban mobility space with its electric vehicle range.
LML’s upcoming products are packaged with the best-in-class technology and features, noted Dr Yogesh Bhatia, MD & CEO, LML Electric. He said, “We are thrilled as we gradually move closer to the date of LML’s comeback across the globe. The concept unveiling of our first three electric vehicles is scheduled for September 29, where we will be throwing light on all essential product details and how we aim to make a difference in today’s era of electrification.”
The company had recently signed an LOI (letter of intent) with Germany based eRockit, and it plans to manufacture the latter's electric pedal bike in India for export markets, as well as for the local market.
A total of 240,662 E2Vs were sold in India during the first six months of 2022. The E2V market is currently dominated by Hero Electric and Okinawa as the top two electric two-wheeler OEMs.
JMK Research estimates that E2W sales would reach 30 lakh units in the next five years, witnessing a CAGR of 84% from FY2021 to FY2026. The growth engine of the E2W market will be fuelled by various drivers, of which strong governmental push and affordability would play key roles.
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