KTM Industries AG and Bajaj Auto Ltd. have decided to initiate a serial production project for PTW electric vehicles in the power range of 3 to 10 kW (48 V).
This platform will support different product variants - scooters, mopeds, small mopeds - under the brands of both partners. This further step in the field of electro mobility is a logical addition to the existing activities with PEXCO in the Husqvarna e-bike sector. The serial production will start at Bajaj's production site in Pune, India, by 2022.
KTM has also announced that the discussions between the Pierer-Group and the Bajaj-Group since the end of March 2019 regarding the possibility of transferring Bajaj's 48% stake in KTM AG to KTM Industries AG are not being further pursued at this stage after all. "The successful cooperation with the Bajaj-Group, which has existed since 2007, will thus continue unchanged at the level of KTM AG".
Meanwhile, KTM says that "contrary to initial estimates at the beginning of the year, there has been very strong market growth in Europe in the first quarter of 2019, with new motorcycle registrations +20%. KTM has seen its overall Q1 market share in Europe increase to 12.3% with a registration increase of +22%". KTM says it has seen Q1 growth of +29% in Germany, +34% in France, +34% in Spain and +30% in India.
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