Royal Enfield commences operations in Bangladesh

Royal Enfield, the global leader in the mid-size motorcycle segment (250cc-750cc), today announced the commencement of operations of its Manufacturing Unit (Category 2) and flagship showroom in Bangladesh. Set up in collaboration with IFAD Motors, this announcement is a significant boost to the company's business in the SAARC region, and further reiterates Royal Enfield's commitment to Bangladesh. Located in Chauddagram, Cumilla District, the new manufacturing facility is Royal Enfield's sixth assembly unit outside India - after Nepal, Brazil, Thailand, Colombia, and Argentina - in addition to its state-of-the-art manufacturing and ancillary facilities located in Tamil Nadu, India.

Commenting on Royal Enfield's entry into Bangladesh and the inauguration of its facilities, Chief Commercial Officer, Royal Enfield - Yadvinder Singh Guleria said "At Royal Enfield, our vision is to expand the middleweight motorcycle segment globally, and our entry into Bangladesh marks another important milestone in this journey. We have steadily grown the midsize market globally with a strong foothold in key markets across Americas, Europe & Asia Pacific regions. Last year, we further strengthened our presence in SAARC by launching CKD operations in Nepal, and now we are delighted to be starting our journey in Bangladesh with the launch of our facility and retail operations in partnership with IFAD Motors"

Also, speaking about the launch of Royal Enfield motorcycles in Bangladesh, he added, "We are confident that Bangladesh has a potential of growth in the leisure motorcycling culture. . We are keen to further nurture and grow this riding culture and are thrilled to launch four of our iconic motorcycles-the Hunter 350, Meteor 350, Classic 350, and Bullet 350 in Bangladesh. Through localized production and assembly, we aim & commit to elevate the customer experience, improve accessibility and expand the motorcycling way of life with the Bangladesh riding community.."

Speaking about the partnership with Royal Enfield, Iftekar Ahmed Tipu, Chairman of IFAD Motors said, "We are delighted to partner with a global brand like Royal Enfield. With a strong legacy and foundation, as well as an enviable portfolio of world-class motorcycles, Royal Enfield has played an integral role in growing the global mid-size segment. As part of our growth commitment, we will expand our own and dealer retail network across Bangladesh in the coming years, helping us attract new consumers and provide our product & services closer to the customers place. We aim to offer best-in-class service & customer experience to strengthen the mid-size motorcycle segment in Bangladesh."

Bangladesh's auto industry is the one of the largest in South Asia and is an important market for the brand especially since the recent rules and regulations allowed the sales for motorcycles upto 350cc engine capacity. The motorcycling culture has also been growing in the SAARC region and it demonstrates a very high potential for growth in the middle-weight segment. Royal Enfield aims to establish a solid presence in Bangladesh with this market debut.

With an assembly capacity of more than 30,000 units per year, the manufacturing facility in Cumilla District is a state-of-the-art, modern facility spread over 7.83 acres that will cater to growing demand in the country. To begin with, the facility will engage in local production and assembly of four flagship models-Hunter 350, Meteor 350, Classic 350, and Bullet 350, specifically for the Bangladesh market. With this setup, Royal Enfield is committed to increase accessibility of its motorcycles in Bangladesh as well as to nurture the growing middleweight segment in the country.

The establishment of the new facility will be complemented by the set-up of Royal Enfield's first flagship showroom in Dhaka. Spread across 7866 sq.ft. this expansion aims to serve the growing base of Royal Enfield enthusiasts in Bangladesh, offering a premium sales and customer experience. With an additional 3900 sq. ft service center, it will facilitate end-to-end sales, service, and after-sales support.

To begin with, Royal Enfield will be launching the iconic Bullet 350, the timeless Classic 350, the the modern retro roadster, the Hunter 350, and the easy cruiser - Meteor 350, in Bangladesh.

Shares of Eicher Motors Limited was last trading in BSE at Rs. 4810.50 as compared to the previous close of Rs. 4764.20. The total number of shares traded during the day was 19336 in over 1598 trades.

The stock hit an intraday high of Rs. 4850.05 and intraday low of 4745.00. The net turnover during the day was Rs. 92913339.00.

Source : Equity Bulls

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EicherMotors INE066A01021 RoyalEnfield Bangladesh ManufacturingUnit