Royal Enfield is yet to enter the electric two-wheeler space and while it may not, in the near future, it has begun testing EV prototypes in India and other parts of the world. In fact, like few other OEMs, the company will introduce a new vertical, maybe a new brand, for its electric vehicles and aims to launch its first EV by 2025, a report by Hindu Business Line said.
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Photo Credit (Gaadiwaadi) Along with EVs, Royal Enfield is set to launch a plethora of new ICE motorcycles
B. Govindarajan, CEO, Royal Enfield, told Hindu Business Line, that the company has made investments in the EV space in terms of creating physical infrastructure for testing EV prototypes and overall preparedness. The company has also been hiring talent for its technology centres in UK and India. The idea is to completely understand buyer requirements of the segment and only then roll out new EV models. Royal Enfield also wants to cater to the ‘motorcycling experience’ with its differentiated EV products.
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Royal Enfield is yet to formally announce any investment plan for EVs in particular but it should be noted that the RE along with its parent company, Eicher Motors, have applied for the PLI scheme under the champion OEM category, which confirms that it will invest Rs. 2,000 crore over a period of five years. The investment is likely to be used for beefing up its EV technology and focus on gathering resources for its electric two-wheelers.
Source: Hindu Business Line
