Bajaj Auto has inked a memorandum of understanding (MoU) with government of Maharashtra for a proposed investment of Rs 650 crore.
The MoU has been signed for setting up manufacturing facility in Chakan, Pune, Maharashtra. The facility is expected to commence production in 2023.
The facility will be utilised for manufacturing high-end KTM, Husqvarna and Triumph motorcycles as well as for electric vehicles starting with Chetak.
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 of the government of Maharashtra.