New Delhi:Royal Enfield has confirmed that ICE (internal combustion engine) motorcycles will still be central to its business. The statement comes while the brand is launching its first electric motorcycle with the Flying Flea. The brand detailed its long-term strategy in its newest annual report under the new framework called RE-BALANCE.
Executive chairman of Royal Enfield’s parent company, Eicher Motors, Siddhartha Lal, in the annual report noted that the brand was committed to making its electric portfolio future but will still invest in petrol-powered motorcycles for the longest time possible. The RE-BALANCE strategy focuses on having a balance of investment between ICE and EVs, improving customer experiences, driving forth profitable growth and advancing sustainability.
Royal Enfield has admitted that evolving consumer preferences and its continued reliance on internal combustion engine (ICE) motorcycles have their own challenges. However, the brand pointed out that it plans to mitigate these risks by introducing innovative products. That would strengthen the appeal of its brand and build deeper connections with younger customers.
How RE-BALANCE could help Royal EnfieldRoyal Enfield said the RE-BALANCE strategy will lead to its gradual expansion in the EV market while continuing to invest in the existing and established ICE lineup. Its EV goals will be led by the Flying Flea brand, which Royal Enfield says is built to complement and not replace its existing ICE portfolio.
The first model under the Flying Flea banner, the C6 electric motorcycle, was shown in multiple cities before its Indian debut, coinciding with the brand’s first dedicated Flying Flea showroom in Bengaluru. The motorcycle comes with a price tag of Rs 2.79 lakh (ex-showroom, Bengaluru). However, customers opting for the Battery-as-a-Service (BaaS) programme can reduce the initial purchase price to Rs 1.99 lakh.
The annual report also underscored Royal Enfield’s growing international presence. Brazil has emerged as the brand’s newest and fastest-expanding overseas market. Royal Enfield has also strengthened its overseas manufacturing presence with new assembly lines in Thailand and Bangladesh.
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