Bajaj Auto on Tuesday signed an MoU with the Maharashtra government for setting up new manufacturing facilities at Chakan at an investment of `650 crore. The high end KTM, Husqvarna and Triumph motorcycles, as also electric vehicles, starting with the Chetak scooter, will be manufactured here. The facility is expected to commence production in 2023. Bajaj Auto and British motorcycle manufacturer, Triumph Motorcycles, have allied to build a new range of mid-capacity motorcycles in the 200 to 750 cc range for the Indian and global markets. Apart from the existing KTM brand bikes, the Pune-headquartered firm has also started rolling out the Husqvarna motorcycle from KTM.
It also plans to swap its 48% stake in KTM AG for a stake in Pierer Mobility AG (PMAG), Austria, which would be marking an entry into the electric bikes segment. Bajaj Auto is celebrating its 75th year of operations in Maharashtra this year. “The proposed investment further reinforces the commitment of Bajaj Auto to the state of Maharashtra where the journey began,” a statement from the company read.
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