Vespa is an iconic Italian scooter brand owned by Piaggio. It was first introduced in India in 1960 through a collaboration with Bajaj Auto, but the partnership ended in 1971. Piaggio then partnered with LML in 1983 to produce Vespas in India, but LML faced financial crises in the 1990s. In 2012, Vespa re-entered the Indian market with investments of 30 million Euros to set up a new production plant. Vespa aims to appeal to young, style-conscious customers in India's premium scooter segment.