Royal Enfield is on an expansion spree
Snapshot: The Chennai based motorcycle manufacturer plans to enter new markets in Latin America and South East Asia in next three years
Royal Enfield is doing everything it can to strengthen its presence worldwide. It now plans to enter new markets in Latin America and South East Asia in the next three years. This is a significant move by the motorcycle major as it plans to increase its production to 4 lakh units per annum by next year end.
Commenting more on the plans, Mr. Siddhartha Lal, MD and CEO, Eicher Motors said, "Besides the developed markets, we are also looking to expand in the emerging markets in the next 1-3 years. We are looking to enter markets in Latin America and South East Asia."
Royal Enfield is already present in countries like US, UK, Europe, Japan and Australia. It also has appointed Corbeta group as its distributor in Colombia.
"We have large ambitions in Colombia, where we have already appointed a distributor. We will be opening showrooms there before the end of this year. The market is largely underserved. Our endeavour is to fill the gap for mid-sized motorcycles in these markets," Lal added.
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