Swiss sports bike maker KTM, which has a manufacturing joint venture with Bajaj Auto, said on Friday it would start selling an electric version of the revived iconic Chetak in Europe in the first quarter of 2024.
The 50.1:49.9 joint venture also rolled out its millionth KTM bike from the nearby Chakan factory.
KTM claims to be the world’s number one premium motorcycle brand.
The E-Chetak, especially the second generation, is a great commuter product for a market like Europe. If all goes according to plan, we should start selling this electric scooter in Europe from early 2024.
Stefan Pierer, chief executive of Perier Mobility, which owns the KTM brand, told reporters here that the European marketing season starts in March and we should be ready then.
Since its launch in 1972, the Chetak has been a household name for the past few decades, but the current management, Bajaj Auto, led by Rajiv Bajaj, discontinued the Chetak in 2006, after the company had grown the bicycle.
The iconic scooter made a comeback in EV form in October 2019 and has since sold more than 24,000 units, priced at ¥140,000 and is now available in 40 cities.
The Bajaj KTM partnership started in October 2007 and the first bike was launched in 2011.
Rajiv Bajaj told the media that half of the one million KTMs are on Indian roads and the rest are exported to around 70 countries.
A Bajaj official told PTI here on Friday that the Chakan plant can produce 200,000 units of various KTM models per year, up from about 160,000 last year, which has dropped further this financial year due to chip shortages. The KTM produced in Pune is shipped by KTM to about 70 markets around the world, while Bajaj ships some of its production to Sri Lanka, Nepal and Indonesia, Pierer said.
On reaching the 1 millionth milestone, Bajaj stated that when we started working with KTM in 2007 with the goal of affordable innovation, 15 years later, we have not only been successful, but have become a 49.9:50.1 staked Structural strategic partners.
Given our similar cultures, we have built an ongoing and trusted partnership that will soon expand into electric vehicles and next-generation technologies.
He also said that the factory is ready to roll out our high-end KTM bikes when KTM management needs us.
First published date: Jan 20, 2023 at 17:20 pm CST