The two-wheeler giant Royal Field is soon to invest Rs 3,000 crore in Tamil Nadu in the next 8 years. As per the details shared by the brand via official release, it has already signed a Memorandum of Understanding (MoU) with a state government, preparing to spread business and set up greenfield and brownfield projects in the region.
Royal Enfield’s Big Investment in Tamil Nadu
The MoU was signed at Global Investors Meet 2024 in Chennai, where Eicher Motors Limited (Parent company of RE) says that investment will be used to develop new products, including EVs, and capacity expansion.
The expansion of work and investment in the state is expected to raise the employment rate, providing an overall 2,000 new job opportunities to the residents in both direct and indirect manner.
State to Support RE’s Bussiness Model
The MoU will also allow the company to have support from the state government, providing them with uninterrupted power supply, infrastructural support, and regulatory facilitation to comply with laws in the state.
Here’s What RE’s CEO Says About MoU
Speaking on the occasion, RE’s CEO B Govindarajan says, “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. 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.”
Meanwhile, this is not the first time such step has been taken by the RE. In 2019, the company also signed a similar MoUs with the Tamil Nadu government. The brand then also stood by its words by completing the responsibilities before the designated period.
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