Royal Enfield will enter into the electric two-wheeler space by 2025. Ahead of its market arrival, B Govindarajan, CEO of Royal Enfield has revealed that the company will develop ‘uniquely differentiated electric motorcycles with strong Royal Enfield DNA’. In fact, the two-wheeler maker begun investing for product strategy, product development, product testing and creating a supplier network around its manufacturing facility in Chennai.
The company plans to invest a capital of Rs 1,000 crore for new product launches from its existing ICE range, new product development and EV production in FY23-24. Royal Enfield is ready to set up its third manufacturing plant in Cheyyar, Chennai that will serve as EV production hub for the company. Currently, the two-wheeler has an EV production plant at Vallam and it will eventually be consolidated at Cheyyar facility. Initially, it aims to have production capacity of 1 lakh units annually, on a double-shift basis.
The new Royal Enfield electric bikes will be designed on an all-new ‘L’ platform. The models will be co-developed by RE and Stark Future SL – the Spanish EV two-wheeler manufacturer. For people not in the know, the parent company of Royal Enfield – Eicher Motors made a strategic investment in Stark Future SL last year. As a part of the deal, Eicher Motors will have a 10.35 percent equity stake in Stark Future SL.
Both firms have a long-term partnership in collaborative R&D in electric bikes, technology sharing, technical licensing and manufacturing for Eicher Motors. While RE will help Stark in the industrialisation process, the Spanish firm will provide its expertise in lightweight components and innovative solutions.
If reports are to be believed, the Royal Enfield electric bikes will be high on performance. The company’s ‘L’ platform supports multiple body styles that will be divided as L1A, L1B and L1C. Besides EVs, RE will bring in a range of new motorcycles across 350cc, 450cc and 650cc segments.
