Royal Enfield L-Series EV Platform: A basic guideline of the path leading up to launch
We all know that a shift to a greener future in the automobile segment is in progress. Whether this greener future is dependent on Hydrogen or EVs or hybrids, it is not yet clear. Manufacturers are trying all available tech to build a greener future. Reliance Industries and Ashok Leyland just showcased Hydrogen run IC engines.
For now, it seems that electric tech has a greater chance of being the future automotive industry. Global and Indian electric motorcycle industry expansion caters to eco-friendly and cost-efficient vehicles. Manufacturers compete to provide the latest technology and design to attract consumers. Indian buyers are becoming increasingly aware of the benefits of electric motorcycles.
And the current e-scooter market shows they’re willing to pay a premium for them. Introduction of advanced EV models is an area of key interest. And Royal Enfield understands this perfectly well. It has previously been hinted that the brand is developing EVs. And now, new reports divulge more information about RE’s EV platform.
New Royal Enfield L Series Launch Plans
Royal Enfield has been busy with research and development on EV tech, leading to the Electrik01 prototype prototype. The shift towards EVs is not difficult for a legacy brand like Royal Enfield, but the direction in which the brand goes will be interesting to know.
Royal Enfield’s first EV platform, codename L-platform, will feature various model/body types to be termed as L1A, L1B, and L1C. The EV lineup will cater to diverse motorcycling needs of global customers. The L-series platform is designed with a 96V architecture for electrifying performance, with a launch expected in H2 2024.
Significant investments crucial to technological development
Royal Enfield plans to invest over $100-150 million in electric vehicle (EV) development. And has started work on its dedicated codenamed ‘L’ platform. Royal Enfield expects to sell 1.2-1.8 lakh electric motorcycles per annum. A prototype is expected to be showcased in the next 12 months. Validation by end 2023 would imply a ready for launch product by H2 2024.
Given Royal Enfield’s marketing strategies, L-series EV platform will be utilised to create multiple body styles and will be marketed to global markets alongside India. In the meantime RE has to strategize for a balance between catering to existing classic bike fan base and its future EV customers.
RE recently invested 50 million euros in Stark Future SL, a Spanish 2-wheel electric vehicle startupRE was allotted 55,363 Class A shares of Stark Future SL for a 10 percent stake in the EV startup. The transaction was completed on January 31, 2023. Both companies have entered into an agreement for research, technology sharing, technical licensing, and manufacturing of electric motorcycles. Operational since 2020, Stark Future SL has showcased its VARG electric motocross motorcycle.
Financially, Royal Enfield has strong revenue and profit growth. However, its collaboration with Stark means high operational costs for now. Technologically, Royal Enfield has made significant investments in product development. And is yet to showcase its electric and digital technologies. While the manufacturer has a loyal customer base in India, its limited but growing international presence and brand recognition is an area of growth.
