UM Motorcycles India operations reportedly stopped
- A new report by ET suggests that UM Motorcycles, which operates in India via the UM Lohia Two Wheelers JV, has completely stopped its operations.
- The reason behind the same is an alleged dispute between UM and Lohia Auto. The source report suggests that the JV is unlikely to be revived since anytime soon since neither parties are making efforts to reach a settlement.
- Ayush Lohia, the CEO of Lohia Auto, has also confirmed that the JV’s revival chances are slim. He also added that UM is undergoing a big financial crisis in its home country.
- The JV’s plant in Kashipur, Uttarakhand has also stopped production and most of the employees are said to be laid off. Most of UM’s dealers have also shut down while those still in operation are not accepting any bookings.