Bajaj Auto and Europe’s Pierer Mobility AG have joined hands to develop electric products in the two-wheeler sector, as the two firms jointly aim to explore the zero tailpipe emissions and long-lasting benefits of electric vehicles in urban settings.
In a regulatory filing Bajaj Auto said that the company is strengthening its strategic cooperation with Europe’s leading manufacturer of powered two-wheeler vehicles Pierer Mobility AG, for the development of electric products in the two-wheeler sector to meet the growing demand for innovative e-mobility concepts.
“PIERER Mobility AG and Bajaj Auto Limited originally joined forces to make a sizeable and relentless footprint in the international motorcycle industry and, as the partnership successfully reaches almost fifteen years of existence, the two companies have decided to jointly explore the zero tailpipe emissions, low maintenance, and long-lasting benefits of light electric vehicles in urban settings and dense metropolitan areas,” it said.
“The initial output from this manufacturing impetus will see the first of these shared platform vehicles beginning of 2022,” it added.
The PIERER Mobility Group is Europe’s leading manufacturer of “powered two-wheelers” (PTW). With its motorcycle brands KTM, HUSQVARNA and GASGAS, it is one of the European technology and market leaders, especially for premium motorcycles. In addition to powered two-wheelers equipped with combustion engines or innovative electric drives, the product portfolio also includes a-bicycles
Post the announcement, share price of Bajaj Auto were trading nearly 3 per cent higher on domestic markets. At the time of filing, the company’s scrip was at Rs 3,601.30, up by 2.8 per cent, while at NSE it was 2.9 per cent higher at Rs 3,603.15.