Bajaj Auto Managing Director, Rajiv Bajaj has confirmed that the company plans to finalize the terms of contract with Triumph Motorcycles in the next few weeks, according to a report from Moneycontrol.
Speaking to Moneycontrol regarding the association with Triumph Motorcycles, Rajiv Bajaj, Managing Director, Bajaj Auto
The agreement will enable Bajaj Auto to manufacture the upcoming Triumph motorcycle at its Chakan factory in Pune. According to industry reports, the first jointly-developed product is likely to be a middleweight cruiser motorcycle (250-500 cc), which could launch in India and other global markets by 2021. The middleweight Triumph motorcycle will be designed and developed by Triumph in the UK, while Bajaj Auto will localize and manufacture.
The Bajaj-Triumph partnership will also enable Bajaj Auto to market the new range of motorcycles in its ASEAN and Latin American markets, while Triumph Motorcycles will take care of distribution in other global markets. In August 2017, Bajaj and Triumph announced a new non-equity partnership to develop a range of mid-capacity motorcycles for India and other emerging global markets.
According to Paul Stroud, Chief Commercial Officer – Triumph Motorcycles, the new partnership provides the company with an opportunity to reach volumes north of 100,000 units in India. Moreover, Rajiv Bajaj is hopeful that the strategic alliances with Triumph and KTM-Husqvarna would allow the company to roll out more premium motorcycles from the Chakan facility.