Chennai: The first electric vehicle (EV) manufactured by Chennai-based Royal Enfield will hit the market in the second half of 2024. For the vertical, a committed team has been assembled in India and the UK under the direction of former Ola Electric CTO. Umesh Krishnappa. The Eicher Motors-owned company intends to spend between $100 and $150 million on the project.

Electric vehicles (EVs) seem like a good idea now a days due to rising fuel prices and pollution levels. As a result, companies from all over the world are entering the market, and Royal Enfield is no exception.

The Chennai-based company aspires to offer a variety of EV products, and reveals that several of its concepts are currently "in advanced stages of testing." It will undoubtedly dominate the market.

Also Read: Turn-by-turn navigation has been added to the Ducati Diavel V4 and DesertX.

Royal Enfield's future electric motorcycles will be built on a specific platform (known internally as the "L"). The architecture is already under construction and should be finished in the coming 12 months.

It is being made keeping in mind the needs of international markets. The company sees EVs as a profitable business with the potential to sell 1.2-1.8 lakh units annually.

“Our approach to developing an electric motorcycle has been very different and we have spent a lot of time studying and understanding the market and customers”, Royal Enfield said in a conversation with Autocar Professional.

Also Read:  Unusual-looking electric crossover Zeekr X has been unveiled

The automaker said it has started investing deeply in the segment and is strategically working on its EV portfolio and business model.

Internally known as the "Electrik01", Royal Enfield's first electric motorcycle will feature a retro design with a circular headlight, a fuel tank-like structure that is shaped like a teardrop, girder forks for the front suspension, and There will be blacked-out alloy wheels. The specifications, power numbers and range of the bike are not available at the moment. The car is currently in the concept stage and will take some time to build.

Royal Enfield and its parent company Eicher Motors have submitted an application in the Champion OEM category of the government's Production Linked Incentive (PLI) programme.

Also Read:  By mid-2023, Kia Motors will unveil the redesigned Seltos in India

Here the brand intends to invest Rs. 2,000 crore over a period of five years in the EV business. There are a number of electric two-wheelers to be seen here in the coming years, including the EV version of the Himalayan.