Bajaj Auto to invest ₹650 Cr for setting up second plant in Chakan
Bajaj Auto on Tuesday announced that it has signed a Memorandum of Understanding with the Government of Maharashtra in order to set up a manufacturing facility in Chakan.
Bajaj Auto aims to invest ₹650 Cr in order to set up the new facility which is expected to start production in 2023. The Pune-based automaker announced that the new facility will produce premium bikes from KTM, Husqvarna and Triumph Motorcycles. The new facility will also manufacture future electric vehicles for Bajaj including the Chetak electric scooter. This will come out to be the second plant for Bajaj Auto in Chakan.
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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 company said in a press note on Tuesday.
Bajaj Auto has recently announced a 5% increase in total sales in November this year. The company sold 4,22,240 units last month as against 4,03,223 units sold in the same month of 2019. The firm announced that the domestic sales figures for last month stood at 1,98,933 units as against 2,07,775 units which is a direct decline of 4%. The overall bike sales rose 12% to 3,84,993 units, as against 3,43,446 units sold in the corresponding month a year ago.