ROYAL ENFIELD MAY LAUNCH A NEW BIKE EVERY QUARTER
Mid-sized motorcycle maker Royal Enfield plans to launch at least 28 new models in the next seven years, with one new bike to be introduced every quarter as it seeks to strengthen its position both in domestic and international markets, according to a top company official.
The company is also planning to set up an assembly unit in Thailand in the next 6-12 months followed by Brazil in the near future.
“We have now got a product plan for the next five to seven years. We are looking at launching a new model almost every quarter and I am not even talking variants and colour options kind of stuff...28 models at least (in the next seven years) that’s the bare minimum,” Royal Enfield chief executive Vinod K Dasari said.
He further said,”All these (new models) will play in the mid segment—250cc to 750 cc. That’s our focus area... and we will continue to strengthen it by bringing in evocative, accessible, and truly global line of products.”
Dasari did not comment on the investments on these new products saying the company’s investments “will be in several hundred crores on new products, new technologies like electric vehicles, digital solutions and so on”.
“We have adequate production capacity for the next 2 to 3 years, and therefore, a significant chunk of our investments will be directed towards the development of new products, technology, and capability enhancement, and global expansion,” he said.
When asked about growth prospects in the domestic market, he said, this year it has to be seen on month-on-month basis.
“The first four-five months were a washout due to Covid-19. Now our booking levels are better than pre-Covid-19level. October was almost as good as last October,” he said.