Eicher invests Rs 600 crore in Royal Enfield
Snapshot: Our immediate business outlook remains strong and Royal Enfield continues to grow consistently, says Siddartha Lal, CEO, Royal Enfield
The Chennai based motorcycle maker, Royal Enfield, has recently announced about the investment of Rs 600 crore done in the company by Eicher for future R&D processes. Royal Enfield plans to produce around 6,75,000 motorcycles in the fiscal of 2016-17, this number reveals the jump of direct 32 per cent when compared to 5,11,611 units produced in 2015-16, also it is an amazing 100 per cent growth rate when taking 2014-15 figures into account which were then limited to 3,36,801 units.
Informing about company’s investment plans he said, “Royal Enfield has been investing in building strong foundations across all areas of its business. We will be investing Rs 600 crore towards product development, setting up of the two technical centres, in Leicestershire, UK and Chennai, India, enhancing our manufacturing capacity and market development activities across geographies.”
“Our immediate business outlook remains strong and Royal Enfield continues to grow consistently, competitively and profitably towards leading and expanding the mid-sized motorcycle segment globally,” added Lal.
The company recently added 145 new dealerships and now the company has over 500 dealerships around the country. Talking about company’s global footprint, Royal Enfield has strengthened its international reach by entering into markets like London, Paris, Madrid, Dubai, Bogota and Medellin. Also the company inaugurated its most recent dealership in Ireland.
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