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About Eicher Motors

History of Eicher Motors

Eicher Motors is a notable Indian commercial vehicle manufacturer whose origin traces back to 1948 with the establishment of Goodearth Company. Initially, it focused on distributing and servicing imported tractors. In 1959, Eicher Tractor Corporation of India Private Ltd was formed in collaboration with the German tractor manufacturer Eicher Tractor Company. By 1965, Eicher in India had become entirely Indian-owned. In 2005, Eicher Motors Ltd divested its tractors and engines business to TAFE Tractors, the Indian licensee of Massey Ferguson tractors, based in Chennai. Eicher Tractors went public in 1978. A significant development occurred in October 1982 when Eicher signed a collaboration agreement with Mitsubishi in Tokyo for the production of light commercial vehicles (LCVs). These LCVs were marketed under the "Eicher Mitsubishi" brand. Subsequently, in February 1990, Eicher Goodearth acquired a 26% stake in Enfield India Ltd, ultimately securing a majority shareholding of 60% in Royal Enfield India by 1993. Soon later, Eicher Tractors was amalgamated with Royal Enfield Ltd. to create Eicher Motors Ltd. In July 2008, Eicher Motors Limited (EML) and Volvo Group joined forces in a 50:50 joint venture named VE Commercial Vehicles (VECV). VECV's scope includes the design, manufacturing, and marketing of commercial vehicles and engineering components, as well as offering engineering design services. In the last 25 years, Eicher has extended its global footprint to encompass more than 38 nations, establishing robust distribution partnerships. Meanwhile, Royal Enfield conducts operations not only within India but also in 60 other countries. The brand maintains contemporary development hubs situated in Leicestershire, UK, and Chennai, India.

Eicher Motors Business Segments

Eicher Motors operates with the following business segments:

Motorcycles: Royal Enfield boasts a diverse lineup of middleweight motorcycles featuring iconic models such as the Classic, Bullet, Himalayan, Interceptor, and Continental GT.
Commercial Vehicles: Eicher Motors Limited, in collaboration with Sweden's AB Volvo, operates Volvo Eicher Commercial Vehicles Limited (VECV). VECV is dedicated to manufacturing and distributing trucks, buses, and commercial vehicles for markets in India and other emerging economies. It offers a comprehensive range of trucks and buses, spanning from 4.9 to 55 tonnes. Notably, VECV's integrated manufacturing facility in Pithampur, Madhya Pradesh, serves as the global hub for medium-duty five- and eight-litre engines for the Volvo Group.
VE Powertrain: Within Eicher's purview, the VE Powertrain division plays a pivotal role in crafting engines, transmissions, and axles specifically tailored for commercial vehicles.
Eicher Engineering Components: Eicher's engineering components division stands as a prominent supplier to the automotive industry, crafting an array of essential components, including gears, shafts, and cylinder blocks.

Eicher Motors Limited serves as the holding company for Royal Enfield, a renowned manufacturer specialising in middleweight motorcycles. Eicher Motors has partnered with Sweden's AB Volvo, resulting in the formation of Volvo Eicher Commercial Vehicles Limited (VECV). VECV has been at the forefront of revolutionising the commercial vehicle industry across global markets.

Eicher Motors Key Personnel

Siddhartha Lal, MD & CEO Siddhartha Vikram Lal, born in October 1973, is an Indian entrepreneur. He is the son of Vikram Lal and has served as the former CEO and presently holds the position of Managing Director at Eicher Motors. Furthermore, he serves as a director at Eicher Goodearth Limited and assumes the roles of Chairman and MD at VE Commercial Vehicles. Lal is recognised for his instrumental role in rejuvenating Royal Enfield.

Eicher Motors Corporate Actions

Stock Split: On August 24, 2020, Eicher Motors Ltd. underwent a stock split, changing the face value of its shares from ₹10 to ₹1.

Eicher Motors Management Outlook

The organisation, Royal Enfield, emphasises seamless and enjoyable ownership experiences for its consumers. During FY 2022-23, the company prioritised enhancing service excellence and bolstering digital capabilities. They achieved 100% commercial readiness for all serviceable parts for their new launches - Hunter, Super Meteor 650, and Twins Refresh.
Royal Enfield maintains a strong commitment to innovating and providing sustainable motorcycle experiences through their REBALANCE approach. Notably, the company has made substantial strides in its electric vehicle (EV) program, displaying in-house design, development, and testing capabilities. Their EV initiatives are designed with a consumer-centric approach, aiming for distinctive, high-performance, and enjoyable electric motorcycles that embody the Royal Enfield DNA.