Royal Enfield confirms electric future for the brand
Royal Enfield believes that the worst is over and once the general economic sentiment becomes positive, it expects to return to double-digit growth.
With the ever-rising scepticism to internal combustion engines, the future of the automotive world is electric. Every manufacturer is gearing up to take on the electrification challenge head-on and Royal Enfield does not want to be left behind.
Speaking to ET Auto, Royal Enfield CEO Vinod Dasari has confirmed that the company is working on new products and electric vehicles.
Royal Enfield currently retails retro-styled single-cylinder motorcycles like the Bullet, Classic, and Thunderbird, all with 350cc and 500cc engines. Twin cylinder products include the Continental GT 650 and the Interceptor 650. Also, on offer is a 411cc single-cylinder adventure motorcycle Himalayan.
Speaking about the company’s plans, Vinod Dasari, CEO of Royal Enfield, said, “Just because there was a downturn, we did not cut down on our capex. I don't think we’ll spend any more on any large [facility]. Most of our capex will go into capability building, new products, electric and other stuff. And it will also go into many small assembly plants around the world.”
Royal Enfield aims to become a global leader in the middleweight segment. Its meteoric rise is nothing short of a miracle backed by a strong marketing initiative. The company has grown from a mere 50,000 units per annum in 2010 to over 50,000 units a month (present volumes).
In the month of October 2019, Royal Enfield sold 67,538 motorcycles in India while its cumulative sales (domestic and exports) amounted to 71,964 units in the same month. To boost sales, it launched more affordable versions of the Bullet and Classic models.
Royal Enfield did not showcase any big concept piece at EICMA 2019, unlike during the 2018 edition, where the Chennai-based manufacturer showcased the KX Bobber concept.
The company is one of the oldest motorcycle manufacturers of the world, having launched its first bike in 1901. Today, Royal Enfield motorcycles are positioned not just as a ride but a lifestyle product – a strategy that has helped the brand accumulate a strong fan following.
(Edited by Saheli Sen Gupta)
