Royal Enfield is on track to launch its first electric motorcycle by 2025, and the company has made considerable progress in its electric vehicle journey, its chief executive said.
The Chennai-based manufacturer, which leads the middle-weight segment of the motorcycle market with a more than 93% share, is looking at a record volume for the year that ends on March 31. "We are progressing on our EV journey and have several ideas that are already in advanced stages of testing. Our approach toward our electro-mobility journey is very different and we have spent considerable time to understand the market and trends," B Govindarajan told ET.
The first e-bike based on its L-platform, codenamed L1C, is expected in 2025, with an initial volume plan of 5,000 units a year, said a person aware of the company's plans. A dedicated research and development team with Umesh Krishnappa at the helm is working on the EV project. He joined the company in 2021 from Ola Electric.
Royal Enfield is the first among the legacy motorcycle manufacturers that has made its EV plans public. Plans of most other manufacturers to bring an e-bike remain under the wrap and the segment comprises models from startups.
In their initial phase of the e-mobility journey, companies including Bajaj Auto, TVS Motor Co and Hero MotoCorp have chosen to focus on the electric scooter market. The motorcycle making arm of Eicher Motors is aggressively building its EV technology and working towards creating a "differentiated motorcycle" that will have a global appeal, said Govindarajan. "You can expect something different, pathbreaking and fantastic from us in the near future," he said.
In December, the manufacturer of the Classic and Meteor models made a strategic investment of ₹50 million in Stark Future, a Barcelona-based startup. The two companies plan to share EV platforms in the future, he said. To complement the efforts, Royal Enfield is building an EV team internally and has more than 65 people as part of it.
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March 21, 2023 at 08:02AM
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