Royal Enfield has signed a Memorandum of Understanding (MoU) with the government of Tamil Nadu to set up new projects in the state. The company plans to invest Rs 3,000 crore over the next 8 years.
The investment will be over a period of eight years for development of new products, including EVs, as well as capacity expansion of current products as and when required, the company has announced.
Royal Enfield: The proposed 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. It is expected to create employment opportunities for up to 2,000 individuals, both directly and indirectly, the company said.