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Bajaj Auto to invest Rs 650 crore to set up new plant in Maharashtra

The facility is expected to start producing high-end KTM, Husqvarna and Triumph motorcycles as well as some EVs in 2023

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2 min read Last Updated : Dec 22 2020 | 10:45 PM IST

Bajaj Auto has signed an agreement with the Maharashtra government to set up a manufacturing facility, the company said in a notification to the stock exchanges on Tuesday. As part of the agreement, the Pune-based company has proposed an investment of Rs 650 crore in Chakan, Maharashtra.

The unit is expected to commence production in 2023. It will be utilised for manufacturing high-end KTM, Husqvarna and Triumph motorcycles as well as for electric vehicles (EVs) starting with Chetak, the firm said.

The investment comes at a time when most auto firms are straddled with excess capacities. The outbreak of the pandemic in February,

Topics : Bajaj Auto Maharashtra government Auto sector

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