LML plans to raise up to Rs 500 cr; first product in 2nd half of 2023

LML Electric plans to raise up to Rs 500 crore to fund setting up of its own manufacturing plant and scale up business, according to company MD and CEO Yogesh Bhatia. The company is gearing up to launch its first product in the Indian market in the second half of 2023 to mark the return of one of the popular two-wheeler brands of yesteryears, LML in an electric reincarnation. LML Electric has already entered into a partnership with Saera Electric Auto Pvt Ltd, which had acquired American cult bike maker Harley Davidson's manufacturing plant at Bawal in Haryana, to roll out its products in the initial phase. "We are planning to launch three products and all are in different categories. Our first product, an electric bike (bicycle), is coming in the first half of 2023 for the European and the US market. Our second and third products will be launched in the second half of 2023 for India and other markets," Bhatia told PTI. The second product will be a "hyper bike" -- a crossover betwe

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