Eicher Motors Limited recently released it integrated annual report for FY2020-21 and Siddhartha Lal, managing director, Eicher Motors said that Royal Enfield is developing a complete range of premium electric vehicles, which are likely to have RE's unmistaken modern classic design. The company plans to bring in customer insight and feedback in developing electric motorcycles. Royal Enfield has a massive market share of 94 per cent in the 250 cc to 750 cc motorcycle segment in India, coupled with a market share of 25.9 per cent market share in 125 cc+ motorcycle segment. The annual report also revealed that Royal Enfield sold 609,403 motorcycles in FY2020-21.
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(Siddhartha Lal, MD, Eicher Motors Limited, confirmed that RE is developing a range of premium electric vehicles)
"The Electric Vehicles segment is gaining momentum with positive policy action. With an eye on the future, we are strategically working on developing our future EV products, while we continue to work on our internal combustion engine offerings. We have state-of-the-art capabilities in product development and manufacturing, coupled with a strong brand and an extensive distribution network. We are leveraging all that with our keen understanding of consumers to develop a complete range of premium electric vehicles and services for global markets, in our inimitable style of modern classic motorcycles", Lal added.
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(Royal Enfield commands a market share of 94 per cent in the 250 cc - 750 cc segment in India)
In the annual report, Royal Enfield noted that "Developing electric powertrain is of environmental and economic significance for the Company. The transition involves building capacity of the ecosystem for Electric Vehicles and inspiring bold brand perspectives. EML strives to make a positive impact and align with the vision of 'Automotive Mission Plan: 2016-26' that focusses on safe, efficient and environment-friendly mobility for customers and encompasses Electric Vehicles as well."
The company is now getting ready to launch the new-generation Classic 350, which will be based on the Meteor 350's J-Series platform and will do away with the old 350 cc unit construction engine (UCE). The upcoming Classic 350 has been spotted testing many times, hinting at the fact that the motorcycle is ready for production and subsequent launch.
