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Aug 29, 2006, 11.16 AM IST
It’s 4th in Maharashtra and the 5th in the country. Bajaj Auto has just announced another plant in Chakan. CNBC-TV18 reports that the plant is part of a Rs 2000 crore project, which includes captive component manufacturing units.
Bajaj Auto will roll out its first 4-wheeler-- a cargo carrier, by early 2009 from a plant that will come up only a few kilometres away from its existing 2-wheeler plant at Chakan.
The plant, which will also manufacture 3-wheelers, will start with a capacity of 1,50,000 units in the first year and will be ramped up to 500,000 units in 3-4 years. The project will use a good part of Bajaj Auto's capex plan over the next three years.
Sanjeev Bajaj, ED of Bajaj Auto says that it's a big project for Bajaj Auto and a big boost for Maharashtra as an investment destination. “The state government expects good amount of investment from the Autombile sector,” he says.
Bajaj Auto's latest investment announcement takes the total value of investment commitment made by automobile companies during this month to almost Rs 4,000 crore. And that's not all. Sources say, German carmaker Volkswagen also visited Chakan and may set up an assembly plant here if it scores over other locations in Tamil Nadu or Punjab.
Bajaj Auto’s first 4-wheeler- a cargo carrier- will compete with Tatas ' small truck, Ace. Bajaj Auto Chairman says that nothing stops the company from entering the passenger car industry as well.
Rahul Bajaj, Chairman of Bajaj Auto says, “Why should we not make passenger cars? But that will depend on the car industry. We do not make something for status, because it makes us feel good. It must satisfy customer demand and satisfy my stakeholders- the first is my customers; the second are my employees and shareholders.”
Tags: Maharashtra, Bajaj Auto , Chakan, 3-wheelers, 4-wheeler, Sanjeev Bajaj, Volkswagen, Tatas, Rahul Bajaj
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