Amritsar, NFA Post: Bajaj Auto has signed a memorandum of understanding (MoU) with the Government of Maharashtra for 650 crore rupees to set up a manufacturing unit in Chakan, Pune.
The two-wheeler and three-wheeler manufacturing company’s new facility is expected to commence production in 2023, the company said in an exchange filing.
“This facility will be utilised for manufacturing high-end KTM, Husqvarna and Triumph motorcycles as well as for electric vehicles starting with Chetak,” Bajaj Auto added.
Under this MoU, the Maharashtra government will facilitate Bajaj Auto in obtaining necessary permissions, approvals, clearances, registrations, fiscal incentives, etc., from the concerned departments of the state, in accordance to the existing policies, and rules and regulations of the state.
“The proposed investment further reinforces the commitment of Bajaj Auto to the State of Maharashtra where the journey began. And it is being done in the year when Bajaj Auto celebrates its 75th Anniversary,” the company said.
The Pune-based company already has plants in Chakan, and in Waluj, near Aurangabad, in Maharashtra. The oldest plant at Akurdi in Pune now houses the research and development centre ‘Ahead’.