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New Bajaj Auto Production Plant To Come Up In Maharashtra: Company Signs MoU With State Government
Bajaj Auto has signed an MoU (Memorandum of Understanding) with the Maharashtra government, towards setting up a new manufacturing facility in the state. The new production facility will be set up in Chakan, with an initial investment of Rs 650 crore from the two-wheeler brand.
The new production facility is said to start vehicle production from 2023. Once in operation, the new facility will manufacture high-end motorcycles for KTM, Husqvarna and Triumph. The new facility will further be used for the production of electric vehicles as well, which currently consists of only the Chetak.
As per the MoU agreement, the state government in return will help the two-wheeler brand obtain all the necessary registrations, approvals, clearances from each of the concerned departments of the state as per the existing policies, rules and regulations.
Bajaj Auto has been expanding its presence in both domestic and international markets over the years. The company already owns a significant amount of stake in brands like KTM and Husqvarna. The company sells a number of motorcycles under the two brands, ranging from the 125cc segment and going up to the 373cc offerings.
The company in January 2020 also entered into an agreement with Triumph Motorcycles. As per their agreement, Bajaj will now manufacture mid-capacity motorcycles for the British brand for the emerging markets.
Bajaj also earlier this year, made its entry into the electric mobility segment, with the launch of its Chetak electric scooter. The Bajaj Chetak electric scooter has been received well in the country, currently available in just Pune and Bengaluru, with a price tag of Rs 1.15 lakh, ex-showroom.
The new investment for a new facility in Maharashtra further strengthens the brand's commitment to the state. The new facility should also help boost production numbers for Bajaj, which will help them improve sales in both the domestic and export markets.
Thoughts On The New Bajaj Auto Production Facility In Maharashtra
Bajaj Auto is working on ramping up its volumes significantly for both the domestic and export markets. With the new production facility, we could also expect the brand to introduce a range of new motorcycles, including multiple high-end offerings as well.
