Bajaj Auto To Set Up A Separate Entity For Electric Vehicles
The company informed Bombay Stock Exchange stating that the board of directors have approved incorporation of a wholly-owned subsidiary at the meeting held on Thursday.
The electric revolution in India is now getting fuelled as the biggies of the game are stepping into the ring, flexing their muscles! Shortly after TVS made it official that it is going to form a separate entity to take care of electric vehicles’ development, Bajaj Auto has made a similar announcement now. Both the companies have already stepped into the electric mobility scenario with their respective electric scooters and are now gearing up to dial things to 11. The company informed Bombay Stock Exchange stating that the board of directors have approved incorporation of a wholly-owned subsidiary at the meeting held on Thursday.
“The wholly-owned subsidiary will leverage the growth opportunities in the evolving mobility space and will help the company venture into the manufacturing of electric and hybrid vehicles in the two, three and four-wheelers category,” said the statement.
The name of the entity is being finalised and is subject to approval with the Ministry of Corporate Affairs. The subsidiary will have a proposed authorized capital of Rs 100 crore. These new electric and hybrid vehicles will cater to the 2-wheeler, 3-wheeler and 4-wheeler categories, says Bajaj. Although it is not yet confirmed or made official by the company but it is being assumed that the new subsidiary could take over the production of electric KTMs and Husqvarnas at the company’s new manufacturing plant that is being constructed at Chakan.
Does it mean… electric Pulsar?
Setting up a separate entity for electric vehicles only makes sense because it further streamlines the brand’s goals and projects. It also makes allocating resources easier. A company as big and iconic as Harley-Davidson too has done the same by forming a separate sub-brand called LiveWire. Now that Bajaj has done the same, it won’t be wrong to assume that in near future, we could also get to see an electric Pulsar! The Pulsar’s legendary brand recall will also help prospective customers switch to electric faster. TVS too, has confirmed that under its new, wholly owned subsidiary, it is also going to launch high-performance motorcycles. The decade-old rivalry between Bajaj Pulsar and TVS Apache could soon get electrified and we are all for it!