Royal Enfield has confirmed INR 700 crore as its investment for FY2019-20 into the company. The company has targeted production of 9.5 lakh units of its motorcycles in the current financial year. The company will be deploying this investment for building new products and platforms and finishing construction for its Technology Centre in tandem with completing the second phase of its facility at Vallam Vadagal, Tamil Nadu.
Siddhartha Lal, the Managing Director & CEO at Eicher Motors, stated that Royal Enfield will emphasize on the switch to BS-VI emission regulations for this year in tandem with enhancing production abilities and creating global platforms. He added that commercial manufacturing should start by H2 FY2019-20 at the Vallam Vadagal facility while the Technology Centre should also be completed soon in Chennai.
Vinod Dasari is the new CEO at Royal Enfield while Siddhartha Lal now holds office as Managing Director. Dasari will also be appointed as an executive director on the Eicher Motors Limited Board. He was previously the CEO & Managing Director at Ashok Leyland. Royal Enfield has also setup its subsidiary in Thailand and is building an assembly plant here. This plant should start functioning from the first half of this financial year and the brand is now scaling up its dealership network across several ASEAN markets.