Royal Enfield recently announced the opening of its new plant in Thailand which is the manufacturer's first overseas assembly plant. And now, the company is set to invest Rs 700 crore in development of new products and increased production capacity. The capital expenditure for the financial year 2019-20 will include completion of Royal Enfield's Technology Centre, Phase-2 of the Vallam Vadagal plant in Tamil Nadu and towards the development of new platforms and products. The motorcycle manufacturer plans to roll out 950,000 motorcycles in this financial year.
To further strengthen its presence in the ASEAN region, Royal Enfield announced its upcoming assembly operations in Thailand in FY 2018-19, its first outside of India. The company aims to grow further in the mid-size segment with its upcoming assembly operations that will come online in H1 FY2019-20 and through expanding its dealer network as well.
Also, Royal Enfield appointed Vinod K Dasari as the Chief Executive Officer. He will also join the Board of Eicher Motors Ltd as an Executive Director with immediate effect. Vinod Dasari takes over from Siddhartha Lal who will continue as the Managing Director of Eicher Motors Ltd. Siddhartha Lal will continue to support Vinod and the team on product and brand related areas.
Prior to joining Royal Enfield, Vinod Dasari was the CEO & Managing Director of Ashok Leyland, a position he held since 2011. He joined Ashok Leyland as the Chief Operating Officer in 2005. Vinod Dasari has held several leadership positions at Cummins India Limited and Timken Company where he went on to become the President of its Global Railroad business in the USA. He started his career with General Electric in 1986.
“Royal Enfield is an inspiring story and I am very excited to be part of such a fantastic brand. Personally for me, working with a consumer brand will be a tremendous learning opportunity, and professionally, I am looking forward to the challenge of creating a global consumer brand from India,” Vinod Dasari, CEO, Royal Enfield said.
Dasari has also served as the President of the Society of Indian Automobile Manufacturers (SIAM) from 2015 to 2017 and as President of Automotive Research Association of India (ARAI), from 2013 to 2015.