According to sources, the company will invest more than USD 100-150 million in its EV venture.
As the transition to electric mobility accelerates, Royal Enfield, India’s Eicher Motors’ renowned and longest-production British motorcycle brand, is making tremendous headway with its own electric vehicle range. The company intends to access the market in the following 18-24 months.
To carry out the goal, Royal Enfield recently hired Umesh Krishnappa, the former CTO of Ola Electric, to lead its EV entry. According to multiple sources, a dedicated team for the electric car industry has been formed in India and the United Kingdom to establish a strategy for participating in the developing zero-emission mobility space.
Royal Enfield EV Development Plan
According to sources, Royal Enfield will invest more than USD 100-150 million in its EV venture. Work on a dedicated platform, internally dubbed ‘L,’ has already begun, and the company intends to offer a variety of items to meet the diverse needs of worldwide buyers.
Within a few years of its market entry in the second half of 2024, the company is exploring a business potential of 1.2 to 1.8 lakh units per year from EVs. The platform was created with a worldwide audience in mind, so in addition to catering to the burgeoning EV industry in the home market, the company hopes to take it to some significant global markets as well. This architecture’s prototype is planned to be completed within the next 12 months. According to a person in the know who requested anonymity, the company hopes to validate its product by the end of 2023 in order to be ready for a commercial debut in 2024.
The business’s representative told our sister site Autocar Professional in an official response that the company has achieved great strides in its “EV journey” over the last few years. The R&D programmes have placed a strong emphasis on sustainable mobility technology, and numerous concepts are in the “advanced phases of testing.”
“Our approach to designing an electric motorcycle has been considerably different and we have spent substantial time in studying and understanding the market and customers. “We are working strategically on our EV portfolio and business model, and we have begun further investment in the segment,” the representative stated.