LML says the company has received several investment offers from some big investors, but will take a decision only after disclosing its products in September this year. LML Electric is currently being funded through parent company SG Corporate Mobility. The company has received land proposals from 2-3 states for the new factory, which are under evaluation. LML Electric has entered into a strategic alliance with Saira Electric Auto, a former manufacturing partner of Harley-Davidson in India, with a capacity to produce 18,000 electric vehicles per month.
world class factory
The company is targeting to set up a world-class electric vehicle plant with a capacity to manufacture one million vehicles per year. The company says that the vehicle manufacturing capacity of this plant can be changed according to the market demand. As per the company’s plan, this plot will be commissioned within 18-24 months.
Electric vehicles will be launched this year
LML is set to launch three electric models in September this year, an electric hyperbike, a simple e-bike and an electric scooter. The company will produce the electric hyperbike in India in collaboration with eRockit AG.
Germany-based eRockit AG manufactures a special type of electric bike that is driven by pedaling. This e-bike can be driven at a top speed of 90 kmph. Advanced battery and electric motor have been used in this e-bike, with the help of which it gets a range of more than 150 km on a full charge.
It is a one of its kind without a clutch e-bike and its speed varies depending on the pedaling. LML has already announced that deliveries of its electric vehicles will begin in February or March next year. At the same time, production will be started from August or September 2023.
Will get unique features
LML has claimed that its electric vehicles will be equipped with some unique features that have not been offered in any other two wheeler electric vehicle in the world till now. In India, LML will compete with leading manufacturers like Hero Electric, Ola Electric, Ather Energy and Okinawa. It is engaging engineering firms in Japan and Europe to design its electric vehicles.
Let us inform that LML is producing vehicles in India in association with Haryana-based Saera Electric Auto. Sera Electric Auto previously manufactured vehicles for Harley-Davidson at its plant in India. The plant in Bawal, Haryana is spread over 2.17 lakh square feet with a capacity to produce 18,000 units of vehicles per month.