Bajaj Auto signs MoU with Maharashtra for manufacturing facility; to invest Rs 650 crore

Bajaj Auto announced on December 22 that it has signed a Memorandum of Understanding with the Government of Maharashtra to set up a manufacturing facility on a proposed investment of Rs.650 crore in Chakan, Maharashtra. 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, said a press release.

Under the arrangement, the Government of Maharashtra will facilitate Bajaj Auto in obtaining necessary permissions/ registrations/ approvals/ clearances/ fiscal incentives etc. from the concerned departments of the state, as per the existing policies/ rules and regulations.

The proposed investment further reinforces the commitment of Bajaj Auto to the state of Maharashtra, where its journey began. And it is being done in the year when Bajaj Auto celebrates its 75th Anniversary, added the release.