As the transition to electric mobility gains momentum, Royal Enfield (the legendary and longest-running British motorcycle brand owned by India’s Eicher Motors) is making rapid progress with its own electric vehicle portfolio. The brand is expected to enter the market within the next 18-24 months.
Former CTO of Ola Electric works for RE
Establish a dedicated team for electric vehicles
Expected to enter the market in the second half of 2023
To bring the plan to fruition, Royal Enfield recently hired Umesh Krishnappa, the former CTO of Ola Electric, to advance its foray into electric vehicles. Expert teams for electric vehicles have been set up in India and the UK with plans to join the early stages of zero-emission mobility, according to multiple insiders.
Royal Enfield is investing more than $150 million in developing electric vehicles.
According to sources, Royal Enfield plans to invest more than $100-150 million in its EV business. Work has already begun on a dedicated platform, codenamed ‘L’ in-house, and the company aims to create a range of products that meet the diverse needs of buyers around the world.
The company is looking at the business potential of 1.2 million to 1.8 million electric vehicles per year within a few years of entering the market in late 2024. The platform was designed with a global audience in mind. Therefore, apart from serving the emerging EV market in the domestic market, the company is also expanding it into several major global markets.
They plan to develop a prototype of this architecture within the next 12 months. The company aims to have the product validated by the end of 2023 and ready for a 2024 launch, the insider added, asking for anonymity.
In an official response, a company spokesperson told sister magazine Autocar Professional that the company has made significant strides on its “EV journey” in recent years. The research and development program is focused on sustainable mobility technologies and the “advanced test phase” has several ideas.
“Our approach to developing electric motorcycles is very different and we have spent a lot of time researching and understanding the market and customers. We have launched a deeper investment in it,” the representative added.
Recently, the company released its first glimpse of the future Royal Enfield e-bike. The company also recently invested in Spanish EV startup Stark Future VL.
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