Bajaj Auto Ltd on Wednesday said it will set up an electric vehicle manufacturing facility at Akurdi in Pune with an investment of Rs 300 crore. The facility, for which the work has already commenced, will have the capacity to produce 5,00,000 Electric Vehicles (EVs) per annum and cater to both domestic and exports markets, the company said in a release.
Akurdi is also the site of the original Chetak scooter factory that made Bajaj Auto a household name in India. Auto parts suppliers of Bajaj Auto will invest ₹250 crore to support manufacturing operations.
Rajiv Bajaj, Managing Director, Bajaj Auto said, “Going forward, for the Bajaj portfolio, except for implementing one internal combustion engine platform that is currently under development, all our R&D drivetrain resources are now laser-focused on creating EV solutions for the future.”
“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….should leapfrog us into a market leading position in EVs in India and overseas,” he added.
The new unit will have robotic and automated manufacturing systems for everything including logistics and material handling, fabrication and painting, assembly and quality assurance.
(With inputs from agencies)