KTM, Bajaj to develop electric vehicles
Bajaj Auto has put aside its plans to transfer stake in its joint venture with KTM and has agreed to develop 48 volt electric two-wheeler platform with the company.
The two companies will initiate a serial production project for electric powered two wheeler (PTW) vehicles in the power range of 3 to 10 kW (48 volt) at KTM AG. The platform will support different product types of two-wheelers including mopeds, small mopeds and scooters under the brands of both the companies. This agreement is in-line with partnership with Pexco and acquisition of Husqvarna.
Bajaj also clarified that the plan of transferring 48 per cent stake owned by Bajaj in KTM AG to KTM Industries will not be pursued any further. On the other hand, KTM reported an increase in its market share in the European market. Registrations increased by 22 per cent in Europe and 30 per cent in Indian in the first quarter of 2019.
On the sales front, for the month of March motorcycle sales grew 7 per cent to 3,65,068 units compared to 3,42,595 units in May 2018. However, commercial vehicle sales declined by 16 per cent to 54,167 units last month as against 64,449 units in May 2018. The company's exports were at 1,83,411 units in March as compared to 1,82,419 units in May 2018, registering a growth 1 per cent.
Reacting to these developments, on Monday at 14:42 hours, Bajaj Auto was at Rs. 3,036.05, up by Rs. 110.80 or 3.79 per cent.