The domestic auto major on Friday announced that it is strengthening its strategic cooperation with PIERER Mobility for the development of electric products in the two-wheeler sector to meet the growing demand for innovative e-mobility concepts.
PIERER Mobility AG and Bajaj Auto originally joined forces to make a sizeable and relentless footprint in the international motorcycle industry. The two companies have now decided 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 renewed strategy will centre on the development of common electric platforms to deliver the advantage of scale, regarding all critical components, allowing both companies to adapt quickly and effectively to evolving customer needs globally. Part of this remit involves an open approach to all battery opportunities, aiding the parallel advantage of both fixed and swappable solutions.
Bajaj Auto further added that the initial output from this manufacturing impetus will see the first of these shared platform vehicles beginning of 2022.
The PIERER Mobility Group is Europe's leading manufacturer of powered two-wheelers. With its motorcycle brands KTM, HUSQVARNA and GASGAS, it is one of the European technologies and market leaders, especially for premium motorcycles.
Shares of Bajaj Auto were up 3.03% at Rs 3607.80 on BSE. Bajaj Auto is the world's third largest manufacturer of motorcycles and the largest manufacturer of three wheelers. It has its manufacturing facilities located at Chakan near Pune, Waluj near Aurangabad, and at Pantnagar in Uttarakhand.
The company's consolidated net profit jumped 29.8% to Rs 1,716.26 crore on 17.4% surge in net sales to Rs 8,730.10 crore in Q3 December 2020 over Q3 December 2019.
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