Classic Legends has confirmed that it will invest Rs. 1,000 crore till the financial year 2025-26. The firm brought the Jawa brand back in late 2018 with a trio of motorcycles and later BSA Motorcycles were revived with the arrival of the Gold Star 650 roadster in the United Kingdom. Another famed motorcycle maker under Mahindra-backed Classic Legends’ wing is the Yezdi.
It made a return to the Indian market in early 2022. The motorcycles from Jawa and Yezdi are sold at the same dealerships and they compete against the entry-level Royal Enfield 350 cc range in the highly competitive middleweight segment. However, the dominance of Royal Enfield could not be shattered as the Classic 350, Meteor 350, Hunter 350 and the recently launched Bullet 350 have been well received by customers.
The founder of Classic Legends, Anupam Thareja, stated in an interview that the new investment will be used for tooling the upcoming products and their developmental duties amongst other aspects including creating a distribution network for the global markets. He noted, “The whole idea is to build a global Indian motorcycle company,”
This will help eliminate losses and make the company profitable in the existing FY according to Thareja. Classic Legends became profitable in its first full year of operation in FY20 but the momentum could not be carried over. The report said that it is currently developing an electrified motorcycle for the UK, Europe and other developed markets.
It is developed from scratch in partnership with the University of Warwick and will be launched sometime next year. It is claimed to be the most affordable zero-emission motorbike in its segment. Classic Legends retails around 4,500 to 5,000 units of Jawa and Yezdi motorcycles in India every month and the annual production volume is expected to reach around one lakh units as the peak festive season approaches.
About 25 to 30 per cent of the total production will be shipped abroad, said Thareja. In early 2023, BSA-branded motorcycles began exporting to the United Kingdom and Europe and more markets will be added in the coming months to further increase exports.
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