He said Royal Enfield had recently announced its plans for assembly operations in Thailand, the company’s first to be set up outside India.

 “The initial response to Royal Enfield in the Asean region, which is one of the largest two-wheeler markets, has been very encouraging,” Lal said.

“With the upcoming assembly operations expected to come on stream in the first half of fiscal 2019-20 and plans to further expand our dealer presence in the region, Royal Enfield is well poised to fill the gap in the mid-sized segment in the region,” he said, referring to motorbikes with engine sizes of between 250cc and 750cc.

The company yesterday said it would have capital expenditure of US$100 million for fiscal 2019-20. The planned capex will include completion of the construction work of the Technology Centre, Phase-2 of the Vallam Vadagal plant in Tamil Nadu, India, and the development of new platforms and products. Also, for 2019-20, Royal Enfield plans a production of 950,000 motorcycles.

On the company’s investment plans, Lal said that this year Royal Enfield would focus on strengthening its product development capabilities and working towards new global platforms.

“The second phase of our Vallam Vadagal plant near Chennai, Tamil Nadu, is progressing well and is expected to commence commercial production in the second half of this financial year,” he said.

“The construction of our Technology Centre in Chennai is also nearing its completion. With a wide distribution network in India, growing international presence and the building state-of-the-art capabilities in product development, Royal Enfield is well on its way to grow the middleweight motorcycle segment globally in the coming years.”

EML announced the appointment of Vinod Dasari as the chief executive officer of Royal Enfield and his appointment to the board of EML as an executive director. It also appointed Vinod Aggarwal, who is managing director and chief executive officer of VE Commercial Vehicles Ltd, as a non-executive director on the EML board. Both appointments are effective immediately.

Dasari takes over from Lal, who will continue as the managing director of Eicher Motors Ltd. At Royal Enfield, Lal will continue to support the team on product and brand-related areas.

For the 12 months to March 2018, Eicher Motors recorded record total income of 8,965 Indian crores (Bt44.47 billion). Eicher Motors is listed on India’s BSE and National Stock Exchange, and has been part of the NSE’s benchmark Nifty 50 Index since April 1, 2016.