Eicher Motors shares rose 3.4 per cent in trade on BSE, logging an intra-day high at ₹7,393.95 per share. At 12:40 PM, Eicher Motors’ share price was trading 3.38 per cent higher at ₹7,386.15 per share. In comparison, the BSE Sensex was up 1 per cent at 77,395.87.
The buying on the counter came after Royal Enfield, a division of Eicher Motors launched the Flying Flea C6, its first electric motorcycle, priced at ₹2.79 lakh (ex-showroom) or ₹1.99 lakh under the Battery-as-a-Service option. Bookings and test rides opened at 12 PM on April 10 at the first Flying Flea store in Jayanagar, Bengaluru, with deliveries set to begin at the end of May 2026.
The launch marks Royal Enfield’s entry into electric motorcycling in its 125th year, under a new sub-brand — Flying Flea — positioned as a city+ electric mobility brand. The FF.C6 rollout will follow a phased, city-by-city approach, according to the filing.
Specifications
The FF.C6 is powered by a 3.91 kWh battery and offers a top speed of 115 km/h, over 400 Nm of wheel torque, and weighs 124 kg. Safety features include lean-angle sensing ABS, traction control, tip-over alert, and live location sharing. The motorcycle supports WiFi, Bluetooth, and 4G connectivity with remote monitoring, and offers Rapid, Standard, and Trickle charging options — charging at approximately 1 per cent per minute. It is available in Storm Black and Flea Green colourways.
The motorcycle has been developed entirely in-house at the Flying Flea Tech Centre by a team of over 200 engineers across India and the UK, backed by 45+ patent applications. The FF.C6 won the Red Dot Award under the Design Concept category in 2025.
“We are excited to introduce the Flying Flea C6, marking our first step into electric motorcycling in our 125th year. With Flying Flea, we are carrying this philosophy into the electric era — this is not just about going electric, it is about creating a new category of urban mobility rooted in experience, not just specifications or numbers,” said B. Govindarajan, managing director, Eicher Motors and chief executive officer, Royal Enfield.
He added that the company has a strong pipeline of electric two-wheelers that will continue to build on its vision over time.
Brokerages’ view on Eicher Motors
Nomura maintained ‘Neutral’ with a target of ₹7,827 per share. The brokerage noted that the Flying Flea C6 showcases Royal Enfield’s advancing EV capabilities — including an integrated motor controller and all-aluminium frame — but flagged that the real-world range of approximately 100 km makes it viable for city commuting only. The brokerage added that the vehicle is lightweight and easy to manoeuvre, aligning well with urban riding needs, but is unlikely to appeal to existing Royal Enfield customers, with early adopters being the more likely target segment.
Nomura believes the product needs to evolve further on battery size, charging, and comfort before it can attract mainstream motorcycle customers. On volumes, the brokerage estimates 500-1,000 units per month for the C6, with gross margins likely to be positive, though Earnings before interest, tax, depreciation and amortisation (Ebitda) visibility on the model remains uncertain. It noted that potential eligibility under the PLI scheme could provide incremental margin support, and that the launch represents a step towards EV penetration in the motorcycle segment, which could aid compliance with future Corporate Average Fuel Efficiency (CAFE) norms for two-wheelers.
For Royal Enfield overall, Nomura estimates volumes of 1.3 million, 1.4 million, and 1.7 million units for FY26, FY27, and FY28 respectively, with Ebitda margins of 24.7 per cent, 25.3 per cent, and 26 per cent over the same period.
ICICI Securities highlighted that from a strategic perspective, the Flying Flea C6 signals Royal Enfield’s cautious but meaningful pivot into electric mobility, focusing on urban use rather than high-performance segments dominated by startups and global electric vehicle (EV) players; by blending retro design cues with modern connectivity and offering flexible pricing via BaaS.
In comparison to its competitors, which are built around higher performance and practicality, offering larger battery options (up to 9.1 kWh), significantly longer claimed ranges of up to ~250–500 km, and stronger power outputs around 11–13 kW with top speeds of 120–125 km/h, along with aggressive pricing starting near ₹1–1.5 lakh, flying flea is more design- and experience-led, with a smaller 3.91 kWh battery focusing on lightweight urban riding, heritage styling.
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