NEW DELHI, JUNE 3: The Piaggio brand name is likely to go off the scooters being manufactured and marketed by LML Limited following termination of the joint venture agreement (JVA) by the Italian bi-wheeler major.The scooters, which are currently being marketed under the LML-Piaggio brand name, would be sold with just the LML tag once the legal procedures of the JVA termination are through, sources close to the two companies told UNI here today.
``We are presently assessing the validity of the termination of the JVA...But now that the partner had exited from the venture, its name would also be removed, though not with immediate effect,'' the sources said.
LML had recently rolled out its first non-Piaggio scooterette -- trendy, a 60cc automatic transmission model carrying a price tag of Rs 17,500. This also marked the company's foray into the scooterette segment of the two-wheeler industry.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.