Tamil Nadu Global Investors Meet: Royal Enfield to invest ₹3,000 crore for new products, capacity building
Eicher Motors Ltd, Monday said it has signed a Memorandum of Understanding (MoU) with the Tamil Nadu government to develop new products, Electric Vehicles (EVs) products and capacity building, news agency PTI reported. The company has earmarked an investment of ₹3,000 crore, the motorcycle manufacturer said, spread over eight years. The investments are expected to generate about 2,000 direct and indirect jobs in the region.
As per a MoU, the investments will be mainly used for the development of new products, Electric Vehicles (EVs) product development and capacity building and also additionally for any capacity enhancement for ICE (internal combustion engine), whenever required. The investments would be used to set up greenfield and brownfield projects in the region, the company release said. Royal Enfield CEO B Govindarajan exchanged documents with Tamil Nadu Industries Department Secretary V Arun Roy during GIM 2024 in the presence of Chief Minister M.K.
Stalin. "Tamil Nadu has been our home, anchor for our engineering, technical and manufacturing foundations for several decades. This strategic investment in Tamil Nadu marks a significant milestone for us at Royal Enfield" PTI quoted Royal Enfield CEO B Govindarajan as saying.
The Tamil Nadu government is committed to providing infrastructural support, uninterrupted power supply and regulatory facilitation including other essential infrastructure support. "We extend our heartfelt gratitude to the Government of Tamil Nadu for their unwavering support, and we are eager to partner with the government and create a positive impact on the community and contribute to the state's overall economic prosperity," he said. Royal Enfield has manufacturing facilities in Oragadam and
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