26-year-old Who Gave Life To Eicher Motors; 37,000 Crores In Assets

Royal Enfield is now synonymous with classic motorcycle. However, there was a time when Royal Enfield’s parent company thought of winding down its operations in India. Siddhartha Lal, who later became the hero of Eicher Motors, saved the company from this crisis. Siddharth Lal’s intervention came when he was just 26 years old after completing his college studies.

In 2000, the Eicher Group ceased operations and there were discussions about selling the company. The senior executives of the firm agreed to it. The company has a loss of crores. The stage where there is no option but to sell. But the 26-year-old son of Vikram Lal, who was the promoter of the group, was ready to take on a big challenge. The demand was to give 24 months time to restore the glory of the company.

SBI Insurance Premium: Alleged withdrawal of money by SBI without users’ permission

In the meantime, the company’s Jaipur plant had been shut down and dealer discounts stopped. But instead of introducing new products during the crisis, Siddharth focused on strengthening the existing motorcycle line-up. Worked to develop bullet for youth and perfected new bullets. In 2001, RE introduced the Bullet Electra. It was a hit. In 2002, Thunderbird was introduced in the Indian market. It became a cult classic. Siddhartha strengthened the company’s retail presence and marketing campaigns.

Soon the company turned profitable. Siddharth was instrumental in making the Royal Enfield Bullet a popular product. This resulted in the Bullet Classic 350 becoming the company’s best selling motorcycle.
Beautifully designed showrooms and well-trained staff make Royal Enfield stand out. As production continued, the Enfield became the oldest motorcycle in the world.

In April 2019, Siddhartha Lal stepped down as CEO of the company. However, he remained the managing director of the company. Lal took over a family business.

Siddhartha Lal’s grandfather started the business. In 1948, they started a tractor shop called GoodEarth. Then he made tractors with the German company Eicher. Then the step changes to motorcycles.
Siddhartha Lal holds a Masters in Auto Engineering from the University of Leeds, England. The value of Eicher Motors shares held by Siddharth Lal is over 1000 crore rupees. The estimated net worth is Rs 37,000 crore.