Bajaj Auto announces new EV facility; vehicles to roll out in June 2022
This unit will have a production capacity of 500,000 EVs per annum, Bajaj Auto said in a statement.
- Dec 29, 2021,
- Updated Dec 29, 2021 2:29 PM IST
India's leading two-wheeler company Bajaj Auto Limited on Wednesday announced that it has commenced work at the new electric vehicle (EV) manufacturing unit at Pune's Akurdi. The automaker also stated that it has invested Rs 300 crore and first vehicle from this unit is expected to roll out by June 2022.
This unit will have a production capacity of 500,000 EVs per annum, the company said in a statement. Akurdi (Pune) is also the site of the original Chetak scooter factory that made Bajaj Auto a household name in India.
Elaborating on its plans for EV facility there, Bajaj Auto stated that the new unit will have "cutting-edge robotic and automated manufacturing systems for everything including logistics and material handling, fabrication and painting, assembly and quality assurance." The unit s spread over half a million square feet and will employ approximately 800 people. "The investments made by Bajaj Auto will be supplemented by a number of vendors, who will invest a further Rs 250 crore," the statement added.
Speaking about the new unit, Rajiv Bajaj, Managing Director, Bajaj Auto Ltd. said, “...This alignment reflects our belief that light Electric Vehicles for sustainable urban mobility is an idea whose time may finally have come. Thus, this investment at Akurdi completes the virtuous cycle of hi-tech R&D competencies, high-efficiency engineering capabilities, world-class supply chain synergies, and global distribution network which should leapfrog us into a market-leading position in EVs in India and overseas.”
Furthermore, this new EV manufacturing unit at Akurdi is co-located with Bajaj Auto’s R&D centre to foster greater collaboration, leading to faster time-to-market, the automaker claimed.
Bajaj Auto has sold over 18 million motorcycles sold in more than 70 countries. It is the first two- and three-wheeler company in the world to have reached a market capitalisation of Rs 1 lakh crore, the company claims.
On Wednesday, Bajaj Auto scrip traded 1.88 per cent higher at Rs 3,236.15 apiece on BSE during late trade.
India's leading two-wheeler company Bajaj Auto Limited on Wednesday announced that it has commenced work at the new electric vehicle (EV) manufacturing unit at Pune's Akurdi. The automaker also stated that it has invested Rs 300 crore and first vehicle from this unit is expected to roll out by June 2022.
This unit will have a production capacity of 500,000 EVs per annum, the company said in a statement. Akurdi (Pune) is also the site of the original Chetak scooter factory that made Bajaj Auto a household name in India.
Elaborating on its plans for EV facility there, Bajaj Auto stated that the new unit will have "cutting-edge robotic and automated manufacturing systems for everything including logistics and material handling, fabrication and painting, assembly and quality assurance." The unit s spread over half a million square feet and will employ approximately 800 people. "The investments made by Bajaj Auto will be supplemented by a number of vendors, who will invest a further Rs 250 crore," the statement added.
Speaking about the new unit, Rajiv Bajaj, Managing Director, Bajaj Auto Ltd. said, “...This alignment reflects our belief that light Electric Vehicles for sustainable urban mobility is an idea whose time may finally have come. Thus, this investment at Akurdi completes the virtuous cycle of hi-tech R&D competencies, high-efficiency engineering capabilities, world-class supply chain synergies, and global distribution network which should leapfrog us into a market-leading position in EVs in India and overseas.”
Furthermore, this new EV manufacturing unit at Akurdi is co-located with Bajaj Auto’s R&D centre to foster greater collaboration, leading to faster time-to-market, the automaker claimed.
Bajaj Auto has sold over 18 million motorcycles sold in more than 70 countries. It is the first two- and three-wheeler company in the world to have reached a market capitalisation of Rs 1 lakh crore, the company claims.
On Wednesday, Bajaj Auto scrip traded 1.88 per cent higher at Rs 3,236.15 apiece on BSE during late trade.