Royal Enfield to invest Rs 500 Crore; set up 2 tech centres

Eicher motors subsidiary Royal Enfield has been enjoying a strong sales trajectory. To keep the momentum going, the Chennai based motorcycle maker plans to invest Rs 500 Crore this year on a variety of activities. These activities include the setting up of two technology centres and increasing its production capacity to 4.5 lakh units annually, from the current 4 lakh units per annum.

The plans were confirmed by Eicher Motors Managing Director & CEO Siddhartha Lal and the technology centres will be set up in Chennai and the UK. The larger centre will be at a new 4.5 acre property that the company has acquired on Old Mahabalipuram Road in Chennai and will be operational by the second quarter of 2016. The UK centre will be located in Leicestershire.

The investment comes in at a golden age for the brand, which is looking to establish itself as a stalwart in mid-size motorcycling globally.

Source: ET