Bajaj Auto, Pierer Mobility to strengthen e-mobility cooperation

Bajaj Auto and Europe's Pierer Mobility AG are strengthening their strategic cooperation in the development of electric products in the two-wheeler sector.

In a regulatory filing Bajaj Auto said that the company is strengthening its strategic cooperation with Europe's leading manufacturer of powered two-wheeler vehicles Pierer Mobility AG, for the development of electric products in the two-wheeler sector to meet the growing demand for innovative e-mobility concepts.

The two companies have decided to jointly explore zero tailpipe emissions, low maintenance, and long-lasting benefits of light electric vehicles in urban settings and dense metropolitan areas, the filing added.

"The initial output from this manufacturing impetus will see the first of these shared platform vehicles beginning of 2022," it added.

Shares of Bajaj Auto were trading 2.90 per cent higher at Rs 3,603.50 apiece on BSE. SVK DRR DRR