Bajaj Triumph manufacturing teams under talks to turn India into an motorcycle export hub to other countries
Bajaj Auto had been in talks with Triumph Motorcycles over a no-equity agreement for the past 15 months. The UK-based motorcycle company is looking for help from India’s third largest motorcycle manufacturer to enter the Indian mid-range bike market.
While an official statement about this Bajaj Triumph partnership is yet to be released despite the continued discussions, Bajaj Auto has said to the media that the talks are progressing “very smoothly”.
The manufacturing teams of both motorbike giants are currently in talks about the finer details of the collaboration. An official announcement will be made only after the precise nature of the work and the protocols to follow are understood to the dot, said Bajaj.
Triumph Motorcycles, in a statement said that this partnership was decided upon understanding that the mid-range bike segment in India has potential for even more growth. Taking the help of Bajaj in the production of small displacement bikes, Triumph is hoping to take on Royal Enfield, which has been the leader in India for the mid-capacity bike segment for nearly a decade.
The UK motorcycle manufacturer also has plans to dominate the 500-700cc segment by taking the reins from Harley-Davidson. The American luxury brand has dominated the stage which Triumph Motorcycles has recently entered.
Statistics show that this segment grew by 22 percent CAGR between FY14 and FY17, which can also be counted as one of the major reasons for this move.
Triumph has earlier mentioned its aim to turn India into an export hub for the international markets. The first bike launch to emerge out of this partnership is said to hit the market by 2021. While it is predicted to be a 650cc model, bike fans will just have to wait till an official statement is out.
Bajaj Triumph Manufacturing
– Talks have been going on for 15 months, Bajaj claims they are on positive note
– Triumph-Bajaj partnership will target the 250-700cc segment
– Triumph hopes to take on Royal Enfield and Harley-Davidson with Bajaj’s help
Source – Moneycontrol.com