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The money will be used to improve the bike maker’s Tamil Nadu plant as well.
Royal Enfield is planning to invest a total of around Rs 800 crore during 2018-2019. The money will focus on the company’s expansion, including upgrading its Vallam Vadagal plant in Tamil Nadu. The money will also be used to set up subsidiaries in Indonesia and Thailand.
Siddhartha Lal, MD and CEO, Eicher Motors, said, “Our demand continues to exceed supply, and we continue to see strong growth from all our markets. Therefore, we have decided to expand our production capacity with the second phase of our Vallam Vadagal plant near Chennai, Tamil Nadu. We will also complete construction of our Technology Centre in Chennai this year, and invest further in the development of new products to meet upcoming regulations and to expand our portfolio for our global markets.”
The company says that it has been received quite well in South East Asia over the last two years and now wants to further strengthen the brand there. It will now work on creating wholly owned subsidiaries in Indonesia and Thailand in 2018-19. “We continue to strengthen our offerings with new models and variants such as the new Thunderbird X, the Classic Gunmetal Grey, Stealth Black and Redditch series, as well as our soon-to-be-introduced Twins. With a wide distribution network in India, a growing international presence and state-of-the-art capabilities in product development, Royal Enfield is well positioned to grow the middleweight motorcycle segment globally,” said Lal.
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Published On : 4 March 2024
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