LML Emotion, the revived two-wheeler brand, which was acquired by SG Corporate Mobility last August, is all set to make its comeback to the Indian market.
The manufacturer unveiled the concept versions of its upcoming electric two-wheeler models – the Star (e-Scooter), Moonshot (e-Hyperbike), and Orion (e-Bike).
While the electric vehicle penetration in the country, especially in the two-wheeler segment, has deepened in the last couple of years, the transition towards electric mobility continues to face a host of challenges such as thermal runaways of battery packs, lack of a robust charging infrastructure and range anxiety among others.
On being asked if it is a safe strategic call to make its return on the back of an all-electric portfolio, Yogesh Bhatia, MD, LML Emotion said, “We’re making our return with three electric-vehicle products. However, for the Orion bike, which is our first product, we’re targeting the US and European market initially,”
“The other two products, the electric scooter and the e-hyperbike, will be launched in India in the latter half of FY2023.”
LML had recently signed a contract manufacturing tie-up with EV manufacturer Saera Electric Auto to use its plant based in Bawal, Haryana. The plant has a capacity to roll out 18,000 units in a month. When asked about LML’s production plans, Bhatia said, “Initially, we’ll be using the readily available facility to cater our production demands,”
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“However, we’re targeting a million EVs annually in the coming 3-5 years, and therefore, discussions are in process with several state governments such as Haryana, Madhya Pradesh, Rajasthan, and UP,” said Bhatia as the company plans to set up its own facility in the coming two years.
The two-wheeler manufacturer is targeting Rs 300 crore in terms of revenue in the maiden year of its return, Bhatia emphasised.
When asked about whether the company will manufacture its EV batteries in-house, Bhatia said that during the first phase of growth, the company does not plan to manufacture the battery in-house. There are discussions in place with EV battery manufacturers for the same, Bhatia noted.
In the second phase, however, the company plans to manufacture an in-house battery pack as it plans to invest between Rs 400-500 crore in the same period with investments expected to come in.