Siddhartha Lal, Managing Director and CEO, Eicher Motors Ltd.
Siddhartha Lal has the winning combination of maverick style and shrewd instinct. The third-generation entrepreneur took over the reins at India’s Eicher Motors in 2000 when he was just 26. In a little more than a decade he had transformed the business, resurrecting the struggling Royal Enfield motorcycle brand and establishing it as a market leader. Today, Royal Enfield is the oldest surviving motorcycle manufacturer in the world. It boasts 91% of the market share for mid-weight (250cc+ segment) motorbikes.
When he took over, Siddhartha divested 13 of Eicher Motors’ 15 businesses, concentrating capital and attention on Royal Enfield and commercial vehicles. Siddhartha made sure the company focused on production capacity, modernized components and classic design lines, providing the perfect alternatives to basic commuter bikes. The group has gone from selling just 29,475 bikes in 2005 to over 800,000 bikes in FY18 and currently has a workforce of more than 7,800 people.
Siddhartha is now looking to grow the brand into new markets such as Thailand and Indonesia. “Our next challenge is to leverage the enormous success we’ve had in India and become a truly global motorcycle brand,” he says.