Bajaj Auto and PIERER Mobility AG strengthen strategic cooperation

Bajaj Auto announced strengthening its strategic cooperation with PIERER Mobility AG for the development of electric products especially, e-mobility vehicles in the two-wheeler sector.  

The basic intention for strengthening this partnership is to be able to cater and meet the growing demand for innovative e-mobility concepts in the sector. Previously, the companies had come together to create a good sizeable and loyal footprint in the international motorcycle industry.  

Now after fifteen years of strong existence, the two companies are set to jointly explore the zero tailpipe emissions, low maintenance, and long-lasting benefits of light electric vehicles in urban settings and dense metropolitan areas. The focus will be to put on the development of common electric platforms to deliver the advantage of scale, regarding all critical components. This is further expected to allow Bajaj Auto and PIERER Mobility AG to quickly and effectively adapt to the ever-rising and changing customer needs.   

The filing to the exchanges said that the initial output from this manufacturing impetus will see the first of these shared platforms vehicles at the beginning of 2022.  

PIERER Mobility Group is considered to be one of Europe's leading manufacturers in the powered two-wheelers (PTW) segment. Its popular motorcycle brands include KTM, Husqvarna and GasGas. The company is one of the European technologies and market leaders, especially for premium motorcycles.  

On Friday, the shares of Bajaj Auto were trading at Rs 3,601.10 per share, up by 2.83 per cent or Rs 99.25 per share. The 52-week high is Rs 4,361.20 per share while its 52-week low is Rs 1,932.85 per share on BSE.