Royal Enfield signs MOU with Govt. of Tamil Nadu
~ Royal Enfield signs Memorandum of Understanding with the Government of Tamil Nadu
Chennai, January, 2019: Royal Enfield, the global leader in the mid-sized motorcycle segment signed a Memorandum of Understanding with the Government of Tamil Nadu. The Tamil Nadu government will extend fiscal and monetary incentives, subject to fulfillment of the conditions of the MoU. The MoU envisages aggregate investment of INR 1,500 crores in Tamil Nadu over a period of 5 years beginning May 2016. The investment is proposed to be towards capacity expansion at Royal Enfield’s three existing manufacturing facilities in and around Chennai at Thiruvottiyur, Oragadam and at Vallam Vadagal that are producing motorcycles for India and international markets as also towards setting up of the Technology Centre on the Old Mahabalipuram Road (OMR) in Chennai. Out of the INR 1,500 crores, Royal Enfield has already invested over INR 1,000 crores. The MoU is subject to ratification by the Board of Directors of Eicher Motors Ltd (owner of Royal Enfield).
Royal Enfield signed a similar Memorandum of Understanding (MOU) back in May 2012 with Govt. of Tamil Nadu for setting up Company’s new manufacturing unit at Oragadam, Tamil Nadu, with an investment commitment of INR 350 crores to be made from 2011 to 2016. The committed investments were completed before investment period.
About Royal Enfield:
The oldest motorcycle brand in continuous production, Royal Enfield made its first motorcycle in 1901. A division of Eicher Motors Limited, Royal Enfield has created the mid-sized motorcycle segment in India with its unique and distinctive modern classic bikes. With its new manufacturing base in Chennai, India, Royal Enfield is able to grow its production rapidly against a surge in demand for its motorcycles. With more than 50% growth every year for the last 5 years, Royal Enfield is fast becoming a very important player in the global mid-size motorcycle market and is working towards re-inventing this space with motorcycles that are evocative and engaging and great fun to ride.
Royal Enfield’s product line‐up in India includes the latest twin cylinder motorcycles – Interceptor 650 and Continental 650, powered by a modern 648cc twin cylinder engine. Royal Enfield also makes Bullet, Classic and Thunderbird models in 350 and 500cc displacement and the purpose-built Himalayan powered by the new LS410 engine. Royal Enfield operates through 17 company-operated stores and 850+ dealers in all major cities and towns in India, and exports to over 50 countries across the world including the USA, UK, several European and Latin American countries, as well as the Middle East and South-East Asia.
Royal Enfield also organizes and supports many motorcycling events and rides globally, more prominently the Rider Mania – an annual gathering of Royal Enfield riders from all over the world to the lovely beaches of Goa, and the Himalayan Odyssey, the most arduous motorcycle ride over some of the toughest roads and highest mountain passes in the Himalayas. Royal Enfield also conducts the popular ‘One Ride’ where people around the world ride out on their motorcycles on the first Sunday of April.
For more information about the Royal Enfield Twins, visit: https://www.royalenfield.com/motorcycles/twins/
To know more about Royal Enfield, the motorcycles, marquee rides and other initiatives, visit: http://royalenfield.com
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