Bajaj to invest Rs. 650 Cr. in new plant at Chakan
KTM, Husqvarna and Triumph bikes will be manufactured as the new facility.
Bajaj Auto has signed a memorandum of understanding (MoU) with the government of Maharashtra to set up a new manufacturing unit in Chakan. The company is investing Rs. 650 crore in the new plant.
The new facility is expected to be utilized to build KTM, Husqvarna and Triumph bikes. The Bajaj Chetak electric scooter is also likely to be manufactured here. Production at the new facility is expected to commence in 2023.
Bajaj Auto has 48% stake in Austrian bike maker KTM. The company plans to double the production at its Chakan plant from 1,08,000 units to 2,00,000 units. Both brands are also developing electric 2-wheelers.
Earlier this year, Bajaj had also signed an agreement with Triumph Motorcycles to build bikes for emerging markets.
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