Bajaj Auto has planned to set up and establish a new manufacturing plant in Chakan, the biggest industrial corridor situated in the western suburbs of Pune, and decided to invest INR 650 crores into the manufacturing plant as an investment. The two-wheeler and three-wheeler pioneer Bajaj Auto has signed the memorandum of understanding and came to an arrangement with the State Government of Maharashtra to seize the deal.
The Pune facility will begin its production from 2023 and will be utilized for manufacturing high-end KTM, Triumph, and Husqvarna motorcycles. Bajaj Auto will also begin and set up the production line for the electric vehicles starting with the Chetak scooter.
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Bajaj to Invest INR 650 Crores in New Manufacturing Plant in Chakan[/caption]
As per the existing rules and policies, the State Government of Maharashtra will aid Bajaj Auto in securing the necessary financial incentives, approvals, clearances, registrations, and permissions from the regulations department.
In a statement, Bajaj Auto said that the “proposed investment will further reinforce the commitment of Bajaj Auto and State Government of Maharashtra where the journey began”, showing commitment when the company celebrates its 75th anniversary.
Heading towards employment generation opportunities, Pune will see eight pioneer companies investing Rs. 34,500 crore where Bajaj Auto is one of the pioneers investing the same for 18,000 people. Present in over 70 nations, Bajaj Auto is the world’s third-largest producer and manufacturer of motorcycles.
With the recent announcement of the setting up of Plant in Pune, Bajaj Auto’s competitors Honda and Suzuki have decided to take things slowly at the moment. Last year, the worldwide sales of the KTM bikes stood at 2,80,099 units but by 2022, the Austrian brand in which Bajaj has a 48% stake, wants to clock 4 lakh units as their new target. The recent investment will generate the market diversity of the automotive industry and will generate employment.
Update Source
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