Royal Enfield Invests USD 100-150 Million As It Gears up for its EV Plans

Royal Enfield, the renowned and longest-producing British motorbike brand owned by India’s Eicher Motors, is advancing quickly with its own electric vehicle lineup as the shift towards electric transportation gathers momentum. Within the following 18 to 24 months, the brand intends to hit the market.

Royal Enfield has hired Umesh Krishnappa on its team, the former CTO of Ola Electric, to lead its EV entry in order to carry out the plan. Several persons in the know claim that a special team for the electric car industry has been established in India and the UK to create a strategy to take part in the developing zero-emission mobility area.

According to sources, Royal Enfield will invest over USD 100–150 million in its EV project. The company hopes to offer a variety of products to meet the various needs of international customers and work on a dedicated platform with the internal codename “L”, which has already started.

In the few years following its market introduction in the second half of 2024, the corporation is investigating the business potential of 1.2 to 1.8 lakh units each year from EVs. This platform was created with a worldwide audience in mind. Thus, in addition to serving the growing EV sector in the domestic market, the company hopes to expand it to some significant international markets. Within the upcoming 12 months, the prototype of this architecture is anticipated to be completed. The company hopes to get its product approved before 2023 ends to be ready for a commercial launch in 2024.

“Our approach to developing an electric motorcycle has been very different and we have spent considerable time in studying and understanding the market and customers. We are strategically working on our EV portfolio and business model, and have started deeper investment in the segment,” said the spokesperson from Royal Enfield to the media.

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