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LML besieged two wheeler company has launched its second geared scooter in the domestic market on the back of a revival of demand in domestic scooter market. LML has introduced a 4-stroke version of its NV brand of scooters in select market of Delhi and Ghaziabad.

The new geared scooter will be available in two variants with a 150cc engine delivers a fuel efficiency of 55 km/litre. The base version of the LML scooter will be available of Rs 39897 (ex-showroom) and the deluxe variant will be available of Rs 40800 (ex-showroom) in Delhi.

LML a Kanpur-based company re-entered the domestic market with its Vespa brand a geared scooters in April 2007 after an 18-month gap when it had to stop production due to fund crunch and labour problems.

LML currently has a limited presence in the domestic market and sells 1,500 units of its two-stroke scooter under the Vespa brand in Delhi, parts of Punjab and Haryana, every month. Operating under the Board for Industrial and Financial Reconstruction (BIFR), it is looking to expand its market to Uttar Pradesh, Bihar and Assam.

Bulk of its total production of 5,000 units per month are exported to Italy, UK, France, Nigeria, Sudan, Japan, Australia, South Korea and Egypt, under the Stella brand. LML has an installed capacity of 300,000 scooters and 240,000 motorcycles. The company has totally stopped motorcycle production.

The scooter market grew 9% to 11.45 Lakh units last fiscal outperforming the two wheeler market which posted a marginally lower growth of 2.6% in the same period.

[Source: EconomicTimes]

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