The iconic and Most popular British motorcycle brand Royal Enfield is making rapid progress with its own Royal Enfield EV portfolio. As all leading two-wheeler manufacturers are embracing EVs as the future of urban mobility, Royal Enfield is not far behind.
As the transition to electric mobility gains steam, Royal Enfield – the iconic and longest-running British motorcycle brand owned by India’s Eicher Motors – plans to rapidly enter the market with its own portfolio of electric vehicles.
Royal Enfield EV :
To make the plan happen, Royal Enfield recently brought in Umesh Krishnappa, former CTO of Ola Electric, to lead its EV entry. According to several people in the know, a dedicated team for the electric vehicle business has been set up in India and the UK to develop plans to participate in the emerging zero-emission mobility space.
The iconic and longest-running British motorcycle brand, owned by India’s Eicher Motors, is making rapid progress with its own portfolio of electric vehicles.
In fact, Royal Enfield recently brought in Umesh Krishnappa, former CTO of Ola Electric, to enter the EV market. The company recently invested in a Spanish EV start-up, Stark Future VL. The tie-up will pave the way for long-term collaboration in R
Royal Enfield will invest over USD 150 million in EV development :
Sources say that Royal Enfield will invest more than USD 100-150 million in its EV endeavor. Work on a dedicated platform, internally codenamed ‘L’, has already begun and the company intends to have a diverse range of products to cater to the diverse needs of global buyers.
The company is exploring a business potential of 1.2 to 1.8 lakh units per year from EVs within a few years of entering the market in the second half of 2024. The platform is designed with a global audience in mind, so apart from catering to the emerging EV space in the domestic market, the company has ambitions to take on some key global markets as well. Prototypes of this architecture are expected to be ready within the next 12 months. The company wants to validate its product before the end of 2023 to be ready for a market launch in 2024, added a person familiar with the matter, requesting anonymity.