Eicher Motors MD & CEO Siddhartha Lal and Royal Enfield Chief Executive Officer B. Govindarajan addressing the media in Chennai on Thursday.
| Photo Credit: Special association
Royal Enfield, a division of Eicher Motors Ltd. (EML), shall be unveiling its first electrical motorbike by 2025, stated a prime firm govt.
“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 instructed media individuals.
“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 stated.
According to Mr. Lal, varied prototypes of e-bikes are being examined and refined additional. Besides, the corporate would proceed to spend money on inside combustion engine (ICE) petrol bikes, Mr. Lal stated.
Asked whether or not they have been taking a look at separate dealerships or an organization to promote e-bikes, he stated that the corporate was nonetheless open to all prospects.
To a query on fund-raising, he stated, “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 enterprise, Mr. Lal affirmed that the e-bike plan was on monitor. Royal Enfield, together with EML, had utilized for the efficiency linked incentive scheme, underneath which it might make investments ₹2,000 crore, stated Royal Enfield CEO B. Govindarajan.
Terming Royal Enfield a “long-term aggressive firm”, he stated it had grown from a single platform and a single product agency to having three manufacturing items and serving 61 international locations. The gross sales rose from 50,000 items to 9 lakh items final yr.
“The company has 93% market share in the mid-weight segment (250cc to 750cc) and 30% market share in the 125cc and above bike segment. We are growing well and have a slew of products lined up for launch,” he added.
