Classic Legends, a subsidiary of Mahindra & Mahindra, is accelerating towards the launch of its maiden all-electric motorcycle, scheduled to make its global premiere in 2024.
Reports from the media have unveiled a groundbreaking partnership between Classic Legends and the esteemed University of Warwick, aimed at crafting an economically accessible electric motorcycle that could soon find its way onto European streets proudly bearing the legendary BSA brand.
Classic Legends, a company renowned for its stewardship of iconic motorcycle marques like Jawa and Yezdi, has recently made waves with a colossal investment pledge of Rs 1,000 crore. This financial commitment is expected to fuel a wide range of strategic initiatives, including product development, aggressive marketing campaigns, the expansion of international distribution networks, and the pursuit of innovative product engineering, among other critical endeavors.
Anupam Thareja, the visionary behind Classic Legends, expressed a lofty aspiration, stating, “Our ultimate goal is to become a renowned Indian motorcycle conglomerate on a global scale.” The company aims to rebound from recent losses, with a firm resolve to return to profitability in the current fiscal year. Notably, Classic Legends achieved profitability in its first full year of operations in FY20 but encountered challenges in subsequent years.
In the competitive landscape of classic middleweight motorcycles, Royal Enfield currently holds a commanding position in the Indian market, asserting dominance in the segment for motorcycles over 250cc, with prices starting above Rs 1.5 lakh. This segment accounts for a substantial share of the 16-17 million two-wheelers sold annually in the broader market. It has emerged as a coveted target for both Indian and global motorcycle manufacturers, driven by the premiumization trend and the promise of significant returns.
Classic Legends is now poised to embrace the era of electric mobility. The company has initiated work on a new electric bike project, slated for global unveiling in 2024. As reported, this electric vehicle is being co-developed with the University of Warwick and aims to claim the title of the most affordable electric motorcycle in its category. While the branding for this EV remains undisclosed, it is expected to carry the storied BSA brand, given its development focus on the UK and other European markets.
Meanwhile, Classic Legends’ direct competitor, Royal Enfield, is also on the electric path, with plans to roll out a range of electric motorcycles. However, the Chennai-based company is charting a different course, starting with premium EV offerings before introducing more affordable alternatives. This strategy allows Royal Enfield to showcase its technological prowess and deliver products with impressive riding ranges, facilitated by larger battery capacities, albeit at higher price points.
Classic Legends currently offers a lineup of motorcycles under the Jawa and Yezdi brands in India, some of which have undergone recent upgrades to enhance their appeal to consumers. However, as of now, the company has not disclosed any plans to introduce an electric vehicle in the Indian market.