Chennai-based Royal Enfield, a leader in the 250cc to 750cc motorcycle segment, sold a total of 9/6,403 motorcycles in the last fiscal year.Eicher Motors is developing a full range of electric bicycles to serve different customers in different markets, according to a top company representative. Eicher Motors owns Royal Enfield, which sells models such as Classic, Bullet, Himalayan, Interceptor INT 650, Continental GT 650 and Meteor 350 in the country.
“The EV segment is gaining momentum through positive policy action. Looking ahead, we are strategically working to develop our future EV products while continuing to work on our internal combustion engine offerings,” said Siddhartha Lal, Managing Director of Eicher Motors in the company’s 2020-21 annual report.
He briefed the company’s shareholders, noting that the company has product development and manufacturing skills coupled with a strong brand and an extensive distribution network.
“We use all of this with our keen understanding of consumers to develop a full range of premium electric vehicles and services for global markets in our inimitable style of modern classic motorcycles,” said Lal.
Chennai-based Royal Enfield, a leader in the 250cc to 750cc motorcycle segment, sold a total of 9/6,403 motorcycles in the last fiscal year.
The EV segment is gaining momentum through positive policy action. Looking ahead, we are strategically working to develop our future EV products as we continue to work on our internal combustion engine offerings Siddhartha Lal, MD, Eicher Motors
In addition to the bicycle business under Royal Enfield, Eicher is also present in the commercial vehicle sector through VE Commercial Vehicles, a joint venture with the Volvo Group.
The joint venture produces trucks, buses, engines and technical components.
Lal noted that while the automotive company has a strong focus on our long-term strategic business plans and goals, it is firmly committed to developing an overarching environmental, social and governance (ESG) vision, with renewed commitments, goals and directions which will also be extended to its partners.
Eicher has improved energy consumption and waste management, two of the production facilities have been certified as water-positive and the company is also steadily expanding its share of renewable energies.
“Our future engagement will be aligned with the global call to action against climate change and support the sector’s transition to a low carbon economy. Our development and CSR programs will be linked to ESG actions, ”said Lal.
The company is committed to building trust and making a positive impact not just in its own production units but across the entire product value chain, he said.
Commenting on market conditions, Lal said, “As we emerge from the second wave of the pandemic, the nation is focused on containing the possibilities of a third wave and strengthening infrastructure for the future. While the market situation seems uncertain at the moment and is gaining momentum with preventive and control measures, we believe that a recovery is not far away. ”
With the introduction of more than 100 dealers and more than 430 studio-sized stores in the past fiscal year, Royal Enfield now has an extensive retail presence of 2,056 stores in India. It has also increased the number of exclusive stores from 77 in 21 countries to 132 in 26 countries.
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