Royal Enfield announces ₹3,000 crore of investment in Tamil Nadu. Here's why
- Royal Enfield will be using the new plant for the development of new products, EVs and also additionally for any capacity enhancement for ICE-models.
Royal Enfield has announced that they will be making an investment of around ₹3,000 crore over a period of eight years in Tamil Nadu. The investment will be majorly used for the development of new products, EVs and also additionally for any capacity enhancement for ICE-models. This investment is anticipated to create employment opportunities for up to 2,000 individuals, both directly and indirectly. Royal Enfield signed a non-binding Memorandum of Understanding (MoU) with the Government of Tamil Nadu at Global Investors Meet 2024, in Chennai on 8th January 2024.
Royal Enfield already has manufacturing facilities in Oragadam and Vallam Vadagal where their motorcycles are being produced. So, this will be their third production facility that will help in increasing the production capacity. Royal Enfield has also signed two similar Memorandum of Understanding (MOUs) back in Jan 2019 and May 2012 with the Government of Tamil Nadu. The commitments were completed before the stipulated investment period.
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2023 was quite good for the manufacturer as they launched the Super Meteor 650 and the Himalayan 450 in the market. People were waiting for both motorcycles eagerly. Currently, the brand is working on launching the Shotgun 650 in the Indian market.
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B Govindarajan, CEO - Royal Enfield, commented on the development stating "Tamil Nadu has been our home; anchor for our engineering, technical and manufacturing foundations for several decades. This strategic investment in Tamil Nadu marks a significant milestone for us at Royal Enfield. We extend our heartfelt gratitude to the Government of Tamil Nadu for their unwavering support, and we are eager to partner with the government and create a positive impact on the community and contribute to the state's overall economic prosperity. In a bid to promote a healthy balance between man, machine and terrain, we look forward to delivering on our vision of manufacturing premium and evocative motorcycles that are Made in Madras and celebrated across the world!"
