Eicher Motors’ two-wheeler division -- Royal Enfield has signed a Memorandum of Understanding (MoU) 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 Rs 1,500 crore 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 Rs 1,500 crore, Royal Enfield has already invested over Rs 1,000 crore.
Eicher Motors is an India-based company, which is engaged in manufacturing automobile products and related components. The company operates in business verticals, including motorcycles, commercial vehicles and personal utility vehicles.
