Royal Enfield to roll out its first e-bike by 2025: Siddartha Lal
The Hindu
Royal Enfield, a division of Eicher Motors Ltd., will launch its first electric motorcycle by 2025. Prototypes are being tested and refined. EML's MD & CEO Siddhartha Lal said they are not in a hurry, but want to create an amazing product. Mario Alvisi, Ducati veteran, appointed as Chief Growth Officer. EML to invest ₹2,000 crore in EV business. Royal Enfield has 93% market share in mid-weight segment, 30% in 125cc+ segment. Growing well, with slew of products lined up for launch.
Royal Enfield, a division of Eicher Motors Ltd. (EML), will be unveiling its first electric motorcycle by 2025, said a top company executive.
“We are still a good 24 months away from the launch. But we are not in a tearing hurry,” EML’s MD & CEO Siddhartha Lal told media persons.
“All players have EVs in the market, but none of it is selling.... we are not yet desperate... we are working hard. The idea is to come out with an amazing product,” he said.
According to Mr. Lal, various prototypes of e-bikes are being tested and refined further. Besides, the company would continue to invest in internal combustion engine (ICE) petrol bikes, Mr. Lal said.
Asked whether they were looking at separate dealerships or a company to sell e-bikes, he said that the company was still open to all possibilities.
To a question on fund-raising, he said, “We have much money that we don’t expect to raise separate money for this business.”
Announcing the appointment of Ducati veteran Mario Alvisi as Chief Growth Officer to drive the EV business, Mr. Lal affirmed that the e-bike plan was on track. Royal Enfield, along with EML, had applied for the performance linked incentive scheme, under which it would invest ₹2,000 crore, said Royal Enfield CEO B. Govindarajan.
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