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LML Ltd (LML) is the second largest scooter manufacturer in the country. Over the years, it has proved to be a strong competitor to the market leader Bajaj Auto. The company's products, have been traditionally priced at a premium. Therefore, it does not have a major market share in the value for money segment, where volume growth is higher. LML also manufactures scooterettes. Driven by falling sales of scooters, LML has decided to foray into the highly-competitive motorcycle segment in collaboration with Daelim of Korea. Its long-standing dispute with its Italian partner Piaggio ended last year with an out-of-court settlement. As a result, Piaggio has now sold its stake in the company to the Indian promoters.
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