The proposed investment further reinforces the commitment of Bajaj Auto to the State of Maharashtra where the journey began.
The facility is expected to commence production in 2023. (Photo: Bajaj)
Two-and-three-wheeler manufacturer Bajaj Auto on Tuesday announced that it has signed an MoU with the Maharashtra government to set up a manufacturing facility in the state. The MoU envisages a proposed investment of Rs 650 crore in the state’s Chakan.
In a regulatory filing, the company said, “The facility is expected to commence production in 2023. This facility will be utilised for manufacturing high end KTM, Husqvarna and Triumph motorcycles as well as for electric vehicles starting with Chetak.”
“Under the arrangement, the government of Maharashtra will facilitate Bajaj Auto in obtaining necessary permissions or registrations or approvals or clearances or fiscal incentives etc from the concerned departments of the state, as per the existing policies or rules and regulations of the government of Maharashtra.”
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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 filing added.
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