Classic Legends is developing a new electric bike that is likely to be launched under the BSA brand in the European markets in 2024.
Top key points:
- Classic Legends is developing a new electric bike.
- The bike is likely to be launched under the BSA brand in the European markets in 2024.
- The company is co-developing the bike with the University of Warwick and is aiming to position it as the most affordable electric motorcycle in its segment.
- Classic Legends’ direct rival, Royal Enfield, is also working on a range of electric motorcycles, but the company is planning to launch premium EVs first.
- The launch of the new BSA electric bike will mark Classic Legends’ entry into the electric vehicle market.
Electric bike (or EV)
This news comes at a time when the electric vehicle market is growing rapidly, especially in Europe. Classic Legends’ direct rival, Royal Enfield, is also working on a range of electric motorcycles, but the company is planning to launch premium EVs first.
1. Collaborative Effort: Classic Legends partnering with the University of Warwick highlights the trend of collaboration between academia and industry for product development. Universities, especially those with strong engineering programs, often have the resources and talent for R&D that companies can benefit from.
Classic Legends
2. Market Positioning: Positioning the new electric bike as the most affordable in its segment is a bold move. This could indicate that Classic Legends is aiming for mass adoption and broad appeal, rather than focusing solely on the premium market segment. This strategy contrasts with Royal Enfield’s approach, which seems to be starting with the premium segment first.
3. Brand Considerations: The decision to launch the bike under the BSA brand for European markets suggests that Classic Legends is trying to leverage the brand’s legacy and appeal. BSA, a renowned British brand, might resonate more with European customers, especially those in the UK, due to its rich history and familiarity.
BSA
4. Competition with Royal Enfield: Classic Legends seems to be taking a different route than Royal Enfield, which is prioritizing premium EVs. By focusing on affordability, Classic Legends might attract a broader audience initially, but Royal Enfield’s strategy to showcase its tech expertise first may establish it as a tech leader in the segment.
5. Indian Market Dynamics: Despite the potential for EV adoption in India due to pollution concerns and a large two-wheeler market, it’s surprising that Classic Legends has no immediate plans to introduce an EV in India. This could be due to multiple reasons – perhaps infrastructure challenges related to charging, potential price sensitivity of the market, or maybe the brand wants to test the product in European markets first before considering other regions.
Conclusion
The electric motorcycle market is heating up with major players gearing up to launch their offerings. It will be interesting to see how strategies unfold, especially between direct competitors like Classic Legends and Royal Enfield. Both seem to have distinct game plans, and only time will tell which approach is more effective in capturing market share and consumer hearts.
