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Bajaj Auto, Triumph Motorcycle UK announce partnership

LiveMint logoLiveMint 08-08-2017 Shally Seth Mohile

Mumbai: Bajaj Auto Ltd and Triumph Motorcycle UK have got into a global partnership, the companies said in a joint statement on Tuesday.

The objective of this “non-equity partnership is to deliver a range of outstanding mid-capacity motorcycles benefiting from the collective strengths of both companies,” it said. With the partnership, the companies hope to draw from the individual strengths, including brand position, perception, design, development technology, quality, cost competitiveness and worldwide distribution, it added.

While it will enable Triumph to significantly expand its global reach by entering new higher volume market segments, especially within the emerging markets across the world, it will allow Bajaj to 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.

“Triumph and Bajaj are excited by the opportunities of this partnership and the prospect of entering new market segments, thereby reaching a whole new group of motorcyclists across the world,” Bajaj Auto said. The companies didn’t share further details.

Addressing its shareholders during the company’s annual general meeting on 20 July, Rajiv Bajaj, managing director at Bajaj Auto, had said the firm is looking at an alliance, and will probably make an announcement in one or two weeks. “We are very close to finalizing a very promising alliance. It’s not certain that it will happen, but if it happens, it will open up enormous possibilities for the company,” he had said.

At 12:51pm, Bajaj Auto shares were trading at Rs2,962.30, up 2.50%. The benchmark Sensex was down 0.54%.

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