Bajaj Auto has inked a memorandum of understanding (MoU) with the government of Maharashtra for a proposed investment of Rs 650 crore.
The MoU has been signed for setting up a 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.