Fabulous and Beyond Motors India (FAB Motors) today said it is in the process of setting up a Rs 1,000-crore manufacturing facility in Telangana for the US-based Regal Raptor motorcycles.
FAB Motors managing director M G Shahriq said the company had entered into an agreement with Regal Raptor to manufacture and distribute its models in India as well as in eight other countries -- Sri Lanka, Pakistan, Bhutan, Nepal, the UAE, Oman, Saudi Arabia, and Yemen.
The facility will be set up with an investment outlay of Rs 1,000 crore over four years.
"We have manufacturing rights for eight countries, besides India. We spent the last year doing ground work for coming up with the unit. The investment would be around Rs 1,000 crore over a period of four years.. The location will be finalised shortly," Shahriq told reporters on the sidelines of Hyderabad International Auto Expo.
He said the company plans to spend Rs 300-400 crore in the first phase partly contributed by Regal Raptor, without disclosing the share of investment between both the companies.
