LML, eROCKIT sign LOI to form JV to manufacture hyperbike in India
E2W maker LML Electric has signed an LOI to form a joint venture with eROCKIT AG, the Berlin-based electric hyperbike manufacturer. If the parties agree on the proposed JV, the latter's hyperbikes will be manufactured at LML's facilities in India for domestic and export markets.
Many exciting products will also be developed together with eROCKIT using their exceptional R&D and technical expertise in this category for the global markets added to LML Electric. This development will have a major impact on LML's overall strategy, ushering in a new category of EVs in the two-wheeler space, it said.
eROCKIT is a unique pedal-powered electric bike that runs with effortless pedaling and has a top speed of more than 90 kmph, supported by an advanced battery and electric direct-drive motor. The bike intelligently adapts to the intuitive pedal control, giving the rider an effortless and performance-oriented experience.
"With this new jewel in LML's crown, LML's pace of progress is truly beating our expectations and we can't be any more satisfied as this is no small achievement by any yardstick," said Yogesh Bhatia, CEO of LML, commenting on the new potential partnership.
LML intends not only to mass-produce the hyperbike product in India but also to localize it fully for the bike to be FAME-II compliant from the beginning. The Indian version of eROCKIT to be marketed by LML will have an additional throttle assist too to meet the CMVR homologation criterion, besides having GPRS-connected telematics for superior user experience, according to the company.
It remains to be seen whether this new category of innovative hyperbikes can transform the E2W space in the domestic market, which is currently dominated by electric scooters.
