HT TECH wants to start sending you push notifications. Click allow to subscribe

Royal Enfield looking to roll out uniquely differentiated electric bikes: CEO

The company, which is part of Eicher Motors, has announced a capex of 1,000 crore for the current fiscal with a focus on various aspects, including EV manufacturing and product development.

By: PTI
Updated on: May 22 2023, 13:08 IST
The company will make investments towards EV manufacturing, EV product development, and of course, product development for our internal combustion engine portfolio. (REUTERS)
The company will make investments towards EV manufacturing, EV product development, and of course, product development for our internal combustion engine portfolio. (REUTERS)

Royal Enfield is developing 'uniquely differentiated electric motorcycles' and has already started investing towards product development and creating a supplier ecosystem around its Chennai-based plant, according to CEO B Govindarajan.

The company, which is part of Eicher Motors, has announced a capex of 1,000 crore for the current fiscal with a focus on various aspects, including EV manufacturing and product development.

You may be interested in

Mobiles Tablets Laptops
Apple iPhone 15 Pro Max
  • Black Titanium
  • 8 GB RAM
  • 256 GB Storage
₹156,900
Check details
28% OFF
Samsung Galaxy S23 Ultra 5G
  • Green
  • 12 GB RAM
  • 256 GB Storage
₹107,999₹149,999
Buy now
Google Pixel 8 Pro
  • Obsidian
  • 12 GB RAM
  • 128 GB Storage
₹106,998
Check details
Apple iPhone 15 Plus
  • Black
  • 6 GB RAM
  • 128 GB Storage
₹87,900
Check details
21% OFF
Acer Swift Go SFG14 41 NX KG3SI 002 Laptop
  • Pure Silver
  • 8 GB RAM
  • 512 GB SSD
₹58,990₹74,999
Buy now
41% OFF
Acer Aspire 5 A515 57G Laptop
  • Gray
  • 16 GB RAM
  • 512 GB SSD
₹52,990₹89,999
Buy now
41% OFF
Acer Aspire 3 A315 24 NX KDESI 004 Laptop
  • Silver
  • 8 GB RAM
  • 512 GB SSD
₹34,490₹57,999
Buy now
40% OFF
Asus VivoBook 15 X515JA BQ322WS Laptop
  • Transparent Silver
  • 8 GB RAM
  • 512 GB SSD
₹31,350₹51,990
Buy now
35% OFF
Xiaomi Pad 6
  • Mist Blue
  • 6 GB RAM
  • 128 GB Storage
₹25,999₹39,999
Buy now
55% OFF
Lenovo Tab M10 5G
  • Abyss Blue
  • 6 GB RAM
  • 128 GB Storage
₹20,999₹47,000
Buy now
32% OFF
Realme Pad 2
  • Imagination Grey
  • 6 GB RAM
  • 128 GB Storage
₹19,668₹28,999
Buy now
Honor Pad X9
  • Gray
  • 4 GB RAM
  • 128 GB Storage
₹16,998
Check details

Part of the capex would also go into the rolling out of new products from the company's existing internal combustion engine portfolio.

Also read: Looking for a smartphone? To check mobile finder click here.

"On the EV journey, we have been making steady progress. I can say Royal Enfield's EV journey is in the top gear now. Our intention is to create uniquely differentiated electric motorcycles with strong Royal Enfield DNA," Govindarajan said in an analyst call.

The company has commissioned a very capable team and has started committing very deep investments in terms of product development, product strategy and in the product testing and development area, he added.

"Currently, we have laid a robust long-term product and technology roadmap on the EV and towards developing the supplier ecosystem is what is the focus as of now," Govindarajan noted.

There are a lot of prototypes and testings, which are currently going on, he stated.

"We are very committed. It's in full blast now," Govindarajan said.

Further, he noted that the company has made a strategic investment in Stark Future and now both the teams are working well.

"They are collaborating very well to learn from each other and looking at what is the co-creation and the development, which we will do and how do we leverage each other's strengths," Govindarajan said.

In December last year, Eicher Motors announced to acquire a 10.35 per cent equity stake in Spanish electric motorcycle maker Stark Future for 50 million euros.

On capex plan, Eicher Motors CEO Siddhartha Lal said the board has approved a cash outlay of 1,000 crore towards capital expenditure for the Royal Enfield business in FY23-24.

The company will make investments towards EV manufacturing, EV product development, and of course, product development for our internal combustion engine portfolio, he noted.

When asked about network expansion in the domestic market, Govindarajan said the company currently has about 2,100 retail outlets across India, a mix of studio stores and dealership outlets.

"...the focus of the team is actually to look at how to proliferate then consolidate. That's how we should actually look at any of these strategies. We should not blindly proliferate because we are very conscious of the dealer profitability and we give utmost importance to every outlet's profitability for the dealers," he noted.

Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on ,Twitter, Facebook, , and Instagram. For our latest videos, subscribe to our YouTube channel.

First Published Date: 22 May, 13:08 IST

Sale

Mobiles Tablets Laptops
4% OFF
Samsung Galaxy S24 Ultra
  • Titanium Black
  • 12 GB RAM
  • 256 GB Storage
₹129,999₹134,999
Buy now
13% OFF
Xiaomi 14
  • Matte Black
  • 12 GB RAM
  • 512 GB Storage
₹69,999₹79,999
Buy now
10% OFF
Apple iPhone 15 Plus
  • Black
  • 6 GB RAM
  • 128 GB Storage
₹72,200₹79,900
Buy now
12% OFF
IQOO 12 5G
  • Legend
  • 12 GB RAM
  • 256 GB Storage
₹52,999₹59,999
Buy now
35% OFF
Xiaomi Pad 6
  • Mist Blue
  • 6 GB RAM
  • 128 GB Storage
₹25,925₹39,999
Buy now
38% OFF
Lenovo Tab M10 5G
  • Abyss Blue
  • 6 GB RAM
  • 128 GB Storage
₹20,999₹34,000
Buy now
50% OFF
Realme Pad 2
  • Imagination Grey
  • 6 GB RAM
  • 128 GB Storage
₹12,999₹25,999
Buy now
57% OFF
Honor Pad X8
  • Blue Hour
  • 3 GB RAM
  • 32 GB Storage
₹8,999₹20,999
Buy now
29% OFF
Infinix INBook X2 Plus XL25 Laptop
  • Grey
  • 8 GB RAM
  • 512 GB SSD
₹38,990₹54,990
Buy now
9% OFF
HP Envy 13 X360 13 ag0035au 5FP71PA Laptop
  • Dark Ash Silver
  • 8 GB RAM
  • 256 GB SSD
₹78,699₹86,507
Buy now
31% OFF
Asus ROG Zephyrus G14 GA401QH HZ077TS Laptop
  • White
  • 8 GB RAM
  • 1 TB SSD
₹94,999₹137,990
Buy now
13% OFF
Lenovo Legion Pro 5 16IRX8 82WK00LPIN Laptop
  • Onyx Grey
  • 32 GB RAM
  • 1 TB SSD
₹135,999₹156,000
Buy now
NEXT ARTICLE BEGINS