 "Bajaj Auto")
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,
