Online BusinessRoyal Enfield to invest Rs 80 crore
Motorcycle manufacturer and part of Eicher Motors, Royal Enfield, would invest Rs 60-80 crore to double the capacity of its Chennai plant to 100,000 units by 2013.
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Speaking to Business Standard after flagging off Southern Odyssey here on Tuesday, Siddhartha Lal, managing director and CEO, said the proposed investment would be made over a period of three years.
This apart, it is also targeting to increase exports to 10-15 per cent by 2012. Currently, exports account for five per cent of the total sales. “We are looking at Latin America, Africa and West Asia besides strengthening our presence in Europe and the US,” said Shaji Koshy, divisional general manager, Royal Enfield, adding they would enter Russia, Israel, West Asia and California by 2010.
The company has a turnover of Rs 400 crore, which it aims to double by 2012. To achieve the target, he said the company would go for one big launch every year. It recently launched Classic 350 and Classic 500.
The Odyssey series is aimed at promoting adventure motorcycling. The Southern Odyssey would see 22 riders cover 3,000 km in Tamil Nadu and Bangalore. “Next year, we plan to launch Nepal series,” said Koshy.