Bajaj Auto-KTM to launch electric two-wheelers1 min read . Updated: 03 Jun 2019, 01:10 PM IST
- The electric two-wheelers will be manufactured at Bajaj's Pune plant
- Bajaj Auto’s sales for the month of May increased 3%
Bajaj Auto has joined hands with Austrian sports bike maker KTM Industries to manufacture electric two-wheelers vehicles in the power range of 3 to 10 kW (48 volt). Under this partnership, Bajaj Auto and KTM will support different product variants - scooters, mopeds, small mopeds - under brands of both partners.
The production of Bajaj Auto and KTM electric two-wheelers will start at Bajaj's Pune plant by 2022.
Meanwhile, KTM Industries said that "the possibility of transferring Bajaj's 48% stake in KTM AG to KTM Industries AG are not being further pursued for the time being. The successful cooperation with the Bajaj-Group, which has existed since 2007, will thus continue unchanged at the level of KTM AG."
In the European market, KTM increased its market share to 12.3% with a registration increase of 22%.
Meanwhile, Bajaj-Auto’s sales for the month of May increased 3% to 419,235 from 407,044 (year-on-year). Shares of Bajaj Auto today were up 4% in noon trade.
Bajaj Auto reported a 21% jump in net profit to ₹1,306 crore for the quarter ended March 31, 2019. It was aided by a one-time gain of ₹342 crore. Revenues from operations rose 9% to ₹7,395 crore as compared to ₹6,788 crore in the same quarter of the previous year.