Eicher Motors’ motorcycle arm -- Royal Enfield has signed a non-binding Memorandum of Understanding (MoU) with the Government of Tamil Nadu at Global Investors Meet 2024, at Chennai. Under the MoU, Eicher Motors proposed to invest around Rs 3,000 crore over a period of eight years into the state to set up Greenfield and brownfield projects in the region. This investment will be majorly used for the development of new products, EVs (product development and capacity building) and also additionally for any capacity enhancement for ICE, whenever required.
This investment is anticipated to create employment opportunities for up to 2,000 individuals, both directly and indirectly, further contributing to the socio-economic growth of the state of Tamil Nadu. Key provisions of the MoU include the Government of Tamil Nadu’s assurance of necessary infrastructural support and regulatory facilitation in accordance with applicable laws. The government will also priorities providing uninterrupted power supply and other essential infrastructure support on a best-effort basis to the company.
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.
Company Name | CMP |
---|---|
Bajaj Auto | 9103.80 |
Hero MotoCorp | 4568.95 |
TVS Motor | 2078.00 |
Eicher Motors | 4594.10 |
Atul Auto | 593.75 |
View more.. |