The Fi variant Bullet 500 is already available in the international market with Disc brakes at both the ends and ABS system. It took many months for the brand to introduce the Fi variant in India. With the new emission norms on the go, along with the BS-IV compliant engine it is accompanied with AHO headlamp and new grab rails. The brand has featured this model in 3 new paint schemes like Marsh Grey, Forest Green and Black.

Bullet 500 uses the same 499cc, single cylinder, 4-stroke, air-cooled engine with digital electronic ignition. With fuel injection on board, the power of the model has been slightly increased to 27.2 bhp @ 5250 rpm and maximum torque to be 41.3 Nm @ 4000 rpm. Braking duties of the bike is held with 280mm disc with 2-piston caliper at the front and 153mm drum brake at the rear. Moreover, RE has used MRF Zapper tyres for the Bullet 500 Fi version.