Mid-sized motorcycle maker Royal Enfield plans to launch at least 28 new models in the next seven years. They are planning to launch each new motorcycle every quarter with the aim of strengthening its presence in the domestic and foreign markets. The company also plans to set up an assembly plant in Thailand within the next 12 months.
After that, a new assembly plant will be set up in Brazil. Royal Enfield Chief Executive Officer Vinod K Dasari explained that the product plan for the next five to seven years is ready. The company plans to launch at least 28 new models in seven years. He added that this would be in addition to the new variants and new colors of the existing bikes.
The company will focus on the mid-size bike segment with an engine capacity of 250 to 750cc. The company has a strong presence in this segment to improve the performance of this segment through new products. At the same time, they did not disclose the investment details in the development of new models. They only responded that investment in new models, new technologies such as electric vehicles and digital solutions would be in the billions.
The company already has the production capacity to achieve the expected sales for the next two to three years. Therefore, a significant share of future investment will be set aside for new models and technologies to increase productivity and expand operations globally.
Dasari said it would be enough to compare months in this year’s vehicle sales in the light of the challenge posed by the Covid 19 epidemic. The first four to five months are lost due to the spread of the coronavirus. But now the company is getting better bookings than in the previous months. Last month’s sales were higher than in October 2019, he explained. On the prospects of competition hotting up in India’s mid-sized motorcycle segment in the wake of Hero Motocorp-Harley Davidson partnership, Honda entered the cruiser segment with its H’ness CB-350 and Bajaj Triumph products slated to improve the production of vehicles and sales. At the same time, he claimed that the company had improved its performance in overseas markets. The assembly plant in Argentina began operations. It is hoped that the assembly facility will be operational in Thailand within 12 months. He said the local assembly would begin in Brazil soon. The new motorcycle meteor 350 was launched on 6th November.