New Delhi :Niche bike maker Royal Enfield is looking to expand its product line up by introducing two new models by 2017.
The company, which sells various popular models like Bullet, Classic, Thunderbird and Continental GT, is developing two engine platforms.
The two new products would be based on the new engine architecture.
“The first model based on the new engine platform will be out next year. Another model will follow in 2017,” Eicher Motors Managing Director and CEO Siddhartha Lal said.
Royal Enfield is the two-wheeler arm of Eicher Motors.
Multiple products could be launched on the two new engine platforms. The new products would be in the range of 250 cc and 750 cc.
Lal, however, did not disclose further details on the new products.
The launches would help the company further consolidate its position to become a leading player in the mid-sized (250 cc-750 cc) segment globally.
Having established its business firmly in the domestic market, the company is now eyeing major markets across the world to sustain its growth momentum.
As part of its strategy to consolidate in international markets, the company is focusing on launching its bikes in major global cities and leverage on the brand pull created there to gain traction.
“We aim to build interest at city level first. We want to introduce our products first in major cities and we believe the brand’s pull will follow in the rest of the country. This is going to be our focus in the next few years,” Royal Enfield President Rudratej Singh said.
In recent times, the company has established presence in various global destinations like Paris, London, Madrid and Dubai. It plans to open one exclusive showroom in Jakarta later this month.
The company had in August this year announced its first direct distribution subsidiary outside India, in North America.
Headquartered in Milwaukee, Wisconsin, the Royal Enfield team will be led by Rod Copes, President Royal Enfield North America, and will directly conduct all market development and sales activities.
The company plans to open its first exclusive branded retail store in Milwaukee in the first half of 2016.
With demand for its products remaining strong, the company aims to take its total installed production capacity to 4.5 lakh units by the end of this year and double it to 9 lakh units by 2018 with the setting up of its third plant in Tamil Nadu.
PTI