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Bajaj Auto to establish separate subsidiary for e-vehicles

Friday, 23 Jul 2021
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Bajaj Auto is in the process of forming a separate wholly-owned subsidiary. The Board of Directors of the company has approved incorporation of a wholly-owned subsidiary. 
 
The wholly-owned subsidiary will leverage the growth opportunities in the evolving mobility space and help the company venture into manufacturing of electric and hybrid vehicles in the two-, three- and four-wheelers category. 
 
The subsidiary will enable the company to monetise from the sun-rise sector, which may call for a sizeable investment to grow in the space. 
 
The name of the entity is being finalised and subject to approval with the Ministry of Corporate Affairs. The subsidiary will have a proposed authorised capital of Rs 100 crore. 
 
Bajaj Auto already sells Chetak scooter and has announced the launch of electric three- wheelers and quadricycles in 2021-2022. 
 
Alternatively, Bajaj Auto's premium bike brand KTM is also working on a range of electric motorcycles which may be introduced in India.
 
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