Royal Enfield, a Chennai based bike manufacturer has officially announced that the company is currently focusing on Rs. 800 crore investment for the FY 2018-19. The legendary bike manufacturer will invest on various activities such as new products, presence in the global market as well as capacity expansion. The company will be also be looking to wrap the construction of its new technology center in the city of Chennai by this year itself. Moreover, the bike maker will also setup two fully owned subsidiaries during this fiscal in Indonesia and Thailand. The Phase-1 of the Vallam Vadagal plant completes its first full year of operations which was inaugurated last year while the new investment will see construction of Phase-2 of the plant this year itself. Moreover, the Oragadam facility will see the RE’s annual production capacity of 950,000 units.
Siddhartha Lal, Eicher Motors, MD and CEO 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 bike manufacturer also confirmed that it will be investing a sum on upgrading its motorcycles for meeting the upcoming safety norms. It is reportedly believed that the bike maker will introduce Anti-Lock Brakes (ABS) on its existing product portfolio considering the future safety norms as well as other changes.
He further said that, "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 middle-weight motorcycle segment globally."
Furthermore, the legendary bike manufacturer is gearing up to launch the much anticipated 650cc twin motorcycles in the country later this year. Touted as the most affordable twin-cylinders to go on sale in the country, Royal Enfield Interceptor 650 and Continental GT 650 will be RE’s first middleweight offerings.