Bullish Momentum: 3 stocks with White Marubozu Pattern on November 4

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Eicher Motors shares will be in focus after Royal Enfield unveiled its first electric motorcycle, the Flying Flea C6, under a new brand."Royal Enfield enters the EV space by announcing the launch of its completely new electric vehicle brand, Flying Flea. The expression of Royal Enfield’s commitment to keep moving forever forward, this new brand of electric vehicles continues a legacy of innovation and builds a unique, and exciting range of urban and city+ motorcycles for the global electric motorcycle marketplace and beyond," the company said in an exchange filing.

Inspired by the original Flying Flea motorbike that was widely used during WWII, the new EV motorcycle offers a unique design. It comes with an aluminium frame that connects the entire bike.

Siddhartha Lal, Managing Director, Eicher Motors, said the company has 28 patents for the electric motorcycle, batteries and motors for which have been designed internally. The cells for the battery though will be sourced by Royal Enfield.“This is a significant step in our evolution as a brand and an opportunity for us to distill the essence of Royal Enfield DNA combined with all the great benefits of EV technology and bring something absolutely delightful and differentiated to the world of city-plus mobility”, Lal informed.

Royal Enfield CEO B Govindarajan said the company has been “deeply” investing in R&D and infrastructure for EV over the last many years, and have built a world-class team including 200 plus engineers in India and the UK. The company has initiated the development of an EV manufacturing plant in Chennai (Tamil Nadu).

"All aspects of our connected electric motorcycles, including product strategy and development, technical components like motor, battery, BMS, custom software, and our retail and market strategy have been developed in-house by our dedicated technical and commercial teams," Govindarajan said.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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