New Delhi: Royal Enfield is not in a hurry to enter the electric vehicle segment and will wait for the right time to enter the room that witnessed many actions in the country, managing director Eicher Motors Siddhartha Lal said on Thursday.
LAL notes that the company is working on electric prototypes but does not plan to launch any product in the near future because it will wait for the market to develop an electric bicycle.
At present, the share of electric bikes in overall domestic bicycle sales can still be ignored, he added.
Royal Enfield, which is part of Eicher Motors, currently selling bikes ranging from 250cc to 750cc in the domestic and international markets.
“We have many activities that occur on the EV Front at the back end.
In terms of the product, there is nothing on the foundation for the next few years.
We have a very strong team for the EV sector and we have done a lot of things on the consumer side , the technology room and also have worked on the prototype.
But we will not hurry for launch because we think the value of propositions for EVs in India is now, especially for motorbikes, no, no, “Lal said at a virtual meeting.
Value propositions will be there in a few years but of course no this year so the company does not want to launch the current product, he added.
“We don’t even have products now to be honest …
our EV strategy will not launch the product immediately but to work towards the right product range and ready when the time is right, when the economy is for consumer work,” Lal said.
He stated that the company focused on the long-term prospects and therefore developed a reasonable product on the market.
“This is a long game not a short …
You might have products that come from other makers, some might work some maybe not, but it doesn’t matter.
The important thing is the long-term view and that’s what we focus on.
We do nothing The half is baked.
We did not do anything that only entered the market, it was not our philosophy at all.
When we entered, we came firmly and with products sorted and sorted.
Ecosystems and everything else, “Lal said .
It will take time for the electric bicycle segment to get reception on the market, he added.
Royal Enfield is currently a global leader in the middle motorcycle segment (250cc – 750cc).
The oldest motorcycle brand in the world in sustainable production, Royal Enfield has a presence in India and more than 60 countries around the world.
In the April-June fiscal quarter, the company sold a total of 1,22,170 motorbikes.