According to CEO B Govindarajan, Royal Enfield is actively developing unique and distinctive electric motorcycles. Royal Enfield is a subsidiary of Eicher Motors and the company has started investing in product development as well as establishing a supplier ecosystem at its plant in Chennai.
As part of its current fiscal plan, Royal Enfield has allocated Rs 1,000 crore for various initiatives, including electric vehicle (EV) manufacturing and product development.
The company aims to create electric motorcycles that embody the essence of Royal Enfield while offering a differentiated riding experience. Govindarajan highlighted the formation of a capable team and significant investments in product development, strategy, testing, and supplier collaboration.
The company is currently engaged in prototype testing and is fully committed to its EV journey. Govindarajan also mentioned the strategic investment in Stark Future, a Spanish electric motorcycle maker, emphasizing the collaboration between the two teams.
In terms of capital expenditure, Eicher Motors has approved a cash outlay of Rs 1,000 crore for Royal Enfield’s business, focusing on EV manufacturing, EV product development, and product development for the internal combustion engine portfolio.
The company is also mindful of network expansion and dealer profitability, aiming to strike a balance between the proliferation and consolidation of retail outlets across India.