Former Ashok Leyland MD and CEO Vinod Dasari has been appointed as CEO of Royal Enfield. Dasari will replace Siddhartha Lal as CEO. Meanwhile, Siddhartha Lal will continue as the MD of the company, working closely with Dasari on matters of product and brand development. Royal Enfield also announced an investment of Rs 700 Cr in FY 2019-20 to manufacture 9.5 lakh motorcycles. The amount will be spent towards new product development, completion of the construction work of the Technology Centre, and the Phase-2 of the Vallam Vadagal plant in Tamil Nadu.
Royal Enfield’s MD Siddhartha Lal said, “With a wide distribution network in India, growing international presence and 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.”