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Eicher Motors shares gain after Royal Enfield inaugurates new facility in Brazil

market | Dec 8, 2022 11:40 AM IST

Eicher Motors shares gain after Royal Enfield inaugurates new facility in Brazil

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The company has seen a growth of more than 100 percent since 2019 in Brazil.

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Royal Enfield, the premium two-wheeler manufacturer of Eicher Motors, has inaugurated a new CKD facility in Brazil, making it its third motorcycle assembly unit in the Americas region and the fourth globally. The other three units are present in Thailand, Colombia, and Argentina.

This is in addition to its manufacturing and ancillary facilities located in India. The move is a part of the company's effort to strengthen its position in the Latin American region.

With an assembly capacity of more than 15,000 units per year, the new assembly unit in Manaus is a modern facility that will cater to growing demand in the country.

The popular two-wheeler maker said that the facility will engage in the local assembly of the entire line-up of Royal Enfield motorcycles, including the new Classic 350, the Meteor 350, the Himalayan, the 650 twin motorcycles, Continental GT, and the Interceptor.

With this setup, Royal Enfield aims to ensure seamless and quicker delivery timelines for motorcycles in Brazil.

According to Royal Enfield CEO, B Govindarajan, "Brazil has been a very strong market for Royal Enfield and is soon poised to be the single largest market for it outside of India. The company has seen a growth of more than 100 percent since 2019 in Brazil."

With a burgeoning consumer base and a significant retail network in the region, the new local assembly unit will be a critical boost for business growth in the Latin American region.

Shares of Eicher Motors are trading 1.55 percent higher at 3,310.50.

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