Bajaj Auto (BAL) has raised its stake from 31.92 to 35.67 per cent in Austria
based company KTM Power Sports AG with an investment of Euro 20 million (approx
Rs 119.8 crore).
The first products under the KTM-Bajaj alliance are likely to be bikes from
125-250 cc which will be launched in the European markets by the December 2010
and subsequently in India by June 2011. These bikes are to be built at BAL's
factory at Chakan in Maharashtra.
BAL has steadily increased its stake in KTM since it first acquired a 14.5
per cent share and voting rights in November 2007 and has invested over Rs 700
crore in KTM prior to this latest investment.