Walter Scheffrahn, who heads the Lambretta brand internationally, said the company would invest more than $200 million in India over the next five years to gain market share.
Digital Desk: In collaboration with Bird Mobility, the Italian scooter company Lambretta, which was once the go-to option for families and businesspeople, is getting ready to return to India in a bigger and cleaner form.
It's important to note that the heavy-duty scooter was prominently displayed in a number of old Bollywood and Hollywood films. Plus, it has established a significant presence in the nation with Bajaj and Vespa.
Walter Scheffrahn, the owner of Innocenti SA, who controls the Lambretta brand globally, stated that the business will invest more than $200 million in India over the next five years with the Bird Group to grab the market.
Innocenti SA will introduce a wide range of high-powered scooters, including G, V, and X models with capacities ranging from 200 cc to 350 cc, as well as an electric scooter in 2024.
"The brand has a soul in India and a remarkable affinity among the public." We wish to re-create the enchantment of the past. "We want to be the Ferrari of scooters in India," Scheffrahn stated
More crucially, the company intends to have local production while simultaneously focusing on exports throughout the world, including its home market of Italy.
It is important to note in this context that the scooters will be high-end, with the most accessible product expected to cost roughly 20% more than the most costly scooters. Lambretta will control 51% of the joint venture, while Bird Group will own the remaining 49%.
According to Scheffrahn, Lambretta sold around 100,000 units internationally last year, and the arrival in India could possibly more than double the brand's presence.
The Lambretta has currently distributed in around 70 countries, with manufacturing facilities in Europe and South East Asia. The manufacturing facility in India is anticipated to be the company's largest.
Additionally, the Manesar production facility, which will have a capacity of 100,000 units, might start operating at the beginning of 2024.