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Bajaj Auto to invest Rs 300 cr for new EV making unit
Two-and-three wheeler manufacturer Bajaj Auto on Wednesday announced an investment of Rs 300 crore for a brand-new unit at Akurdi for manufacturing EVs.
The company said it has commenced work for the new unit.
The company said the unit will have a production capacity of 500,000 EVs per annum.
Notably, Akurdi (Pune) is also the site of the original Chetak scooter factory that made Bajaj Auto a household name in India.
"In 2001, Bajaj 2.0 took off on the roaring Pulsar, in 2021 Bajaj 3.0 arrives on the charming Chetak. Going forward, for the Bajaj portfolio, except for implementing one state-of-the-art ICE platform that is currently under development, all our R&D drive train resources are now laser focused on creating EV solutions for the future," said Rajiv Bajaj - Managing Director, Bajaj Auto.
"This alignment reflects our belief that light Electric Vehicles for sustainable urban mobility is an idea whose time may finally have come. Thus, this investment at Akurdi completes the virtuous cycle of hi-tech R&D competencies, high-efficiency engineering capabilities, world class supply chain synergies, and global distribution network which should leapfrog us into a market leading position in EVs in India and overseas."
As per the company, the new unit will have cutting-edge robotic and automated manufacturing systems for everything including logistics and material handling, fabrication and painting, assembly and quality assurance.
The new unit is spread over half a million sq feet and will employ 800 personnel.
Besides, the investment made by Bajaj Auto will be supplemented by a number of vendors, who will invest a further Rs 250 crore.
The first vehicle from this unit is expected to roll out by June 2022.
"This new EV manufacturing unit at Akurdi is co-located with Bajaj Auto's state-of-the-art R&D centre to foster greater collaboration, leading to faster time-to-market," the company said in a statement.
"It should transform Bajaj Auto's Akurdi facility into a hub for design, development and manufacturing of a complete range of Electric Vehicles."