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KTM Industries AG, Bajaj Auto agree on new electric vehicle alliance

03 Jun 2019 Evaluate

KTM Industries AG and Bajaj Auto have decided to initiate a serial production project for Powered two wheeler (PTW) electric vehicles in the power range of 3 to 10 kW (48 volt) at the level of KTM AG. This platform will support different product variants - scooters, mopeds, small mopeds, under brands of both partners.

This further step in the field of electro mobility is a logical addition to the existing activities with PEXCO in the HUSQVARNA e-bike sector. The serial production will start at Bajaj's production site in Pune/India by 2022. The necessary development budget is covered in the medium-term plans.

Bajaj Auto is world’s fourth largest two and three-wheeler manufacturer. Bajaj Auto has three plants in all, two at Waluj and Chakan in Maharashtra and one plant at Pant Nagar in Uttaranchal.

Peers
Company Name CMP
Bajaj Auto 9861.10
TVS Motor Company 3920.20
Hero MotoCorp 4991.10
Eicher Motors 6960.00
OLA Electric Mobilit 36.30
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