Siddhartha Lal said India already leads China, Japan, Europe and the US in the two-wheeler market. A uniform 18% GST would not only secure this leadership but also enable India to dominate the global electric two-wheeler market.
The middleweight bikemaker is also betting big on Hunter 350, which was launched in August 2022, and is incidentally its most affordable motorcycle (priced at Rs 1.5 lakh)
The Eicher Motors MD & CEO said that since the market is "not gagging” for electric motorcycles, he is not in a “tearing rush” to launch them
With a virtual monopoly in the 250-750cc motorcycle market for many years, the company recently faced competition from new motorcycles such as the Triumph Speed 400, Harley Davidson 440X, Hero Mavrick 440, and Bajaj Pulsar 400.
The company’s revenue from operations jumped 11.87 percent Year-On-Year (YOY) to Rs 4,256 crore as compared to Rs 3,804 crore in the same quarter last fiscal
The company has earmarked over Rs 1,000 crore capex this fiscal. It is in the process of establishing a dedicated assembly line that will have a capacity of around 1.5 lakh units per annum for EVs
Royal Enfield is no stranger to competition since it really “started succeeding” 10-15 years ago when it had a lot of growth, said Lal