Bajaj Auto will set up an electric vehicle manufacturing plant at Akurdi, Pune.
By June 2022, it is going to produce its first vehicle. The capacity of this plant is around 5,00,000 units per annum. This is the same plant where the famous chetak scooter was made.
The speciality of this Akurdi plant will have robotic and automated manufacturing systems for logistics and material handling, fabrication, painting, assembly, and quality assurance.
The company will expect to employ 800 personnel in the facility spread over half a million sq. feet for this operation.
Various Vendors also invest an additional ₹250 crores in the plant and produce EVs for domestic and export, the company said in a release.
Bajaj Electric Vehicles
Bajaj Auto recently has one electric variant vehicle, ‘The Chetak’. The company is working on an electric model under the Husqvarna brand.
The electric Chetak, KTM, Husqvarna and Pulsar all producing in the Chakan factory, Pune.
In 2022, it will be marked to enter the space of three-wheeler electric vehicles. In a month, Bajaj Auto produces 1,000 units of the Chetak EV scooter.
To end foreign ownership through only Joint Ventures for promoting investment from automakers.
China allows full foreign ownership to automakers. New norm to come into effect from January 1, 2022.
Allow Foreign Ventures to Join the Company
The market opens to newer players like RIVIAN and LUCID and will allow for existing players to take full ownership.
The amendment also allows foreign brands like Volkswagen, Ford, General Motors, and Mercedes-Benz to take over their respected joint ventures.
The company’s Managing Director said that they are going forward; all their R&D drive train resources would be laser-focused on creating EV solutions for the future.
Several Automakers like Bajaj, Hero, Motocorp, and TVS Motors are going forward in incorporating wholly-owned subsidiaries to venture into the manufacturing of both electric and hybrid vehicles.
Overview of the Company
Bajaj Auto is a venture of Bajaj Group Company, and it is the fourth largest three and two-wheeler manufacturer. The company exports their vehicles to more than 70 countries.
It spread to Latin America, Africa, the Middle East, South and Southeast Asia. In 2007, Bajaj Auto acquired a 14% stake in Austria-based company KTM that raised to 48% now.
Founder
The Bajaj Group was founded by Jamanlal Bajaj in 1926 in Mumbai. It manufactures scooters, Motorcycles, Three-Wheeler vehicles and spare parts thereof. Niraj Bajaj is the chairman, and Madhur Bajaj is the Vice Chairman of Bajaj Auto.
Conclusion
The emerging system of electric vehicles will be beneficial to the ecosystem and make a good option for every individual.
The electricity is cheaper than petrol and diesel. And the battery system of electric bikes is chargeable at home only.
There is no need to stand in long rows and wait for the number. Of course, electric vehicles are pollution-free and have Zero (0%) pollution in all aspects.
Today almost all companies are moving forward to EVs and making a new segment to the automotive sector.
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