Royal Enfield plans Rs800 cr investment for current fiscal
Niche bike maker Royal Enfield plans to invest Rs 800 crore during this fiscal on various activities including its upcoming manufacturing facility near Chennai and new product development.
"We will be investing Rs 800 crore in FY 2017-18 towards our upcoming manufacturing facility at Vallam Vadagal near Chennai, product development, two technical centres in UK and India and towards market expansion," Eicher Motors MD and CEO Siddhartha Lal said. The new plant is expected to be operational by August 2017 taking the combined capacity of Royal Enfield to 8,25,000 motorcycles in 2017-18.
During the fourth quarter of the last fiscal, Royal Enfield posted its best ever performance. It sold 1,78,345 motorcycles, posting a growth of 20.8%.