Royal Enfield set to become world No. 1 in mid-size motorcycle segment
Royal Enfield set to become world No. 1 in mid-size motorcycle segment. Royal Enfield is looking to gain the number one mid-size motorcycle...
Royal Enfield is looking to gain the number one mid-size motorcycle manufacturer title over the next 10 years and has a strategic plan in place and will be expanding on a similar strategy that helped it gain a massive presence in India.
The manufacturer that has seen 50 percent growth in exports over the last 18 months is now looking at global growth and has also put up a top management team in place including the likes of Rod Copes, President North America, famous motorcycle designer Pierre Terblanche that joined the group earlier this year and more recently ex-Unilever Rudratej Rudy Singh that came on board as the new President, under MD Siddharth Lal’s management.
Royal Enfield is looking to expand ferociously on the global front with the development of new products on schedule. The company even registered the name ‘Himalayan’ recently hinting towards an adventure motorcycle as its next offering.
Along with the new products, the manufacturer is also looking to expand its manufacturing capacity and will be increasing its total production by 50 percent from the current 3 lakh units to 4.50 lakh units annually at its Oragadam-based facility by December 2015.
In addition, Royal Enfield also has acquired a 50-acre land between Sriperumbudur and Oragadam for any future expansion plans while an R&D centre is also under development on the Mahabalipuram road, Chennai.
Back in the day, Royal Enfield used to export its models overseas in limited stock based on the order, but that changed with the arrival of the Continental GT, its first of the new models targeted for global markets. The manufacturer now ships its offerings to developed markets like Europe and USA while it recently also established presence in Latin America and South East Asia.
The company plans to make its Chennai plant the global manufacturing hub with CBU or CKD assembly options in other markets depending on the demand. The aim is to be the number one bike maker in the mid-size space in every market it enters, the company states.