 "Bike maker Triumph transfers its India sales, marketing ops to Bajaj Auto")
Bajaj Auto Ltd and British bike maker Triumph Motorcycles on Monday said they have completed transfer of the latter's India sales and marketing operations to the Indian firm.
The two companies would also be launching a jointly developed mid-sized range of bikes later this year.
The development is part of the strategic partnership between the two companies announced in 2020 under which they planned to collaborate to create a new range of mid-sized Triumph Motorcycles.
The partnership offers Triumph an opportunity to further build their business as the portfolio expands, Bajaj Auto Executive Director Rakesh Sharma said in a statement.
"We will also leverage our formidable distribution network to rapidly expand the exclusive Triumph stores in India in preparation for the soon-to-be-launched, exciting new motorcycles," he added.
As part of the partnership, the current 15 Triumph Motorcycle dealerships will be managed by Bajaj Auto but will remain exclusive to the brand and continue to operate in line with Triumph's global standards, the statement said.
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"This is an important partnership for Triumph which continues to progress very well...We are excited about the growth that we can now achieve through our partnership with Bajaj Auto Ltd, here in India...," Triumph Motorcycles Chief Commercial Officer Paul Stroud said.
The two companies said they are planning to launch new mid-sized Triumph motorcycles, which have been jointly developed and will be produced at Bajaj Auto's Chakan plant in Maharashtra.
"This new range of mid-sized Triumph motorcycles will create a new entry point into the Triumph brand around the world...," the statement said.
Bajaj Auto plans to open Triumph dealerships in over 120 cities in the next two years in line with Triumph's global standards, it added.
The company already operates four distinct and exclusive dealership networks for its KTM, Bajaj Motorcycles, Chetak Electric and Bajaj three-wheelers range of products.