Bajaj Auto is continuing to increase its shareholding in Austrian bike manufacturer, KTM. Amsterdam-based Bajaj Auto International Holdings BV, a wholly-owned subsidiary of the Bajaj Group, has acquired a further 59,500 KTM shares, taking its total to 1.78 million voting shares – 25.86 percent of the total equity in KTM Power Sports AG.
Rajiv Bajaj, MD, Bajaj Auto, is already on the KTM board of directors since the end of last year, when the two companies signed a technology exchange and manufacturing agreement. Together, Bajaj and KTM are said to be working on 250cc and larger displacement bikes, which would be sold in India, various parts of Asia and Europe. These bikes are expected to hit the market early next year.
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