Placeholder canvas

KTM and Bajaj agree on new electric vehicle alliance

Date:

European motorcycle producer KTM Industries AG and Bajaj Auto Ltd have decided to initiate a serial production project for two-wheeler electric vehicles in the power range of 3 to 10 kW (48 volt) at the level of KTM.

This platform will support different product variants like scooters, mopeds and 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.

 

ALSO READ: 2020 Land Rover Defender ‘coming soon’ on the automaker’s India website

The serial production will start at Bajaj’s production site in Pune by 2022, according to a statement issued by the firm on Monday. The necessary development budget is covered in medium-term plans.

The possibility of transferring Bajaj’s 48 per cent stake in KTM AG to KTM Industries AG is not being further pursued for the time being. The cooperation with the Bajaj-Group since 2007 will thus continue unchanged at the level of KTM AG.

Contrary to initial estimates at the beginning of the year, the retail market in Europe has developed very well. The European market as a whole grew by about 20 per cent in the first quarter.

KTM increased its market share to 12.3 per cent with a registration increase of 22 per cent. The registration numbers went up in Germany by 29 per cent, France 34 per cent and Spain 20 per cent.

In addition, to increase in sales across India by 30 per cent, the remaining markets are in line with expectations, said the statement issued by KTM Industries AG.

(ANI)

Click here for Latest News updates and viral videos on our AI-powered smart news genie

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

Popular

More like this
Related

Elections 2024: Legal Cases Against Donald Trump And How It Can Impact His Chances For Presidency

Former President Trump was indicted with charges of overturning the 2020 Presidential election and was indicted on Felony charges and also the violence of January 6 2021 in Washington D.C.

About 80,000 Leaders, Workers From Different Parties Join BJP Ahead Of Lok Sabha Elections

New Delhi: Ahead of the upcoming general elections 2024,...

Arvind Kejriwal’s ED Custody Extended Till April 1

New Delhi: The Rouse Avenue Court in Delhi extended...

Fact Check: Mohan Bhagwat-Led RSS NOT Supporting INDIA Bloc

A video alleging that the Rashtriya Swayam Sevak Sangh...