Bajaj Auto reported higher sales in May
Bajaj Auto reported higher sales in May

Bajaj Auto-KTM to launch electric two-wheelers

  • 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.

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