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Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. The group has tied up with BMW Motorrad to co-develop new platforms and future technologies.īajaj currently produces around 1,000 units of the Chetak EV scooter a month.īusiness Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world.
On the other hand, TVS, in September, bought 80 per cent in EGO Movement, a Swiss e-bike company, for $17.9 million to expand its presence in developed markets, including Europe. The development of EV is happening under Hero’s emerging mobility business unit (EMBU), which is set for the launch of the first EV product by March 2022.
The teams at Hero are focused on working across the entire EV eco-system, such as battery technology and battery management systems, powertrain, telematics, analytics & diagnostics and charging infrastructure, according to a statement by the company. Hero said its EV project is going on as per plans, and the Chittoor manufacturing facility in Andhra Pradesh is gearing up to produce the EVs. Bajaj’s rivals Hero MotoCorp and TVS Motors, though slowly, are making steady progress to have a stable EV business alongside their traditional IC engine products. Of late, several automakers in India, including Bajaj, have approved incorporation of wholly owned subsidiaries to venture into manufacturing of electric and hybrid vehicles. The investments made by Bajaj will be supplemented by a number of vendors, who will invest a further Rs 250 crore, the company said. The first vehicle from the unit is expected to roll out by June 2022. Akurdi is the site of the original Chetak scooter factory that made Bajaj Auto a household name in India.