No Post Found
Two-wheeler maker Bajaj Auto announced its global partnership with UK-based Triumph Motorcycles on Tuesday, which is expected to enhance Bajaj Auto's portfolio in the 'easy riding space'.
In an official statement, Bajaj Auto said that the tie-up is a strategic non-equity partnership "to deliver a range of outstanding mid-capacity motorcycles benefiting from the collective strengths of both companies."
According to analysts, the alliance will help Bajaj Auto enhance its overall portfolio which is currently missing a strong brand in the cruiser bike space. At the company's annual general meeting (AGM) last month, Bajaj Auto managing director Rajiv Bajaj, admitted that the missing pieces for the company lay in the "easy riding or lazy riding space".
"This new global partnership will enable Triumph to significantly expand its global reach by entering new higher volume market segments, especially within the emerging markets across the world. Bajaj will gain access to the iconic Triumph brand, and its great motorcycles, enabling it to offer a wider range of motorcycles within its domestic market and other international markets," Bajaj Auto said.
Triumph Motorcycles meanwhile said that the objective of the partnership is to deliver a range of "outstanding mid-capacity motorcycles benefiting from the collective strength of both companies."
Pune-based Bajaj Auto already has a decade-long alliance with Austrian bike maker KTM of which Bajaj holds a 47 percent share. However, in the alliance with Triumph, Bajaj is not picking up any stake in the UK bike brand, but will manufacture Triumph bikes in India.
After the announcement of the tie-up, Bajaj Auto stock spiked 3 per cent to Rs 2,962 on the NSE, outperforming the broader Nifty.