Royal Enfield Electric Bike: The maker of Classic and Bullet motorcycles said it is testing the prototype and has put together a team to look into the commercial side of the EV business. Royal Enfield has also lined up a capex of about INR 1,000 crore for 2023-24, with a part of it aligned for developing products and sales infrastructure for EVs. Further, with the entry of Triumph and Harley Davidson, the company noted it is many steps ahead of the competitors and will be able to hold on to 80% share of the market in the medium to long term.
Eicher Motors, manufacturer of Royal Enfield motorcycles, plans to launch its first electric bike in India over the next two years. Initially, it plans to install production capacity of 150,000 units to coincide with its rollout. Gurgaon-based Eicher dominates India s premium motorcycle segment with a market share of approximately 90%.
Royal Enfield has commissioned a very capable team and has started committing deep investments in terms of product development, product strategy a d testing and development area, said the CEO.