Bajaj Auto just got a big green light! The company can now own nearly half of KTM AG. This boosts Bajaj’s global reach. It shows big moves are happening in the auto world.
Bajaj Strengthens KTM Partnership
Bajaj Auto received approval to increase its stake in KTM AG. They can now hold up to 49.9% of the Austrian motorcycle brand. This means Bajaj almost owns half of KTM. The deal is worth around $384.8 million. This move expands Bajaj’s presence worldwide. It also strengthens their joint ventures.
This partnership is key for new motorcycle models. It helps Bajaj compete globally. Expect more exciting bikes from this duo.
Festive Season Fuels Auto Sales Boom
Vehicle registrations soared during the recent festive season. They jumped by a huge 19% year-on-year. This covers September and October 2023. Over 2.1 million vehicles were registered. The Federation of Automobile Dealers Associations (FADA) shared this news. This shows strong public demand for new vehicles.
Two-wheelers led the charge. Their registrations grew by 21%. Three-wheelers saw a massive 43% rise. Passenger cars also climbed 10%. Commercial vehicles went up 9%. Even tractors increased by 12%. This surge indicates high consumer confidence. You can read more about Indian auto sales growth.
Billions Flow into Auto Sector Deals
The Indian auto sector attracted huge investments. Private equity and venture capital poured in $4.6 billion. This happened in Q3 2023 alone. These funds came through 58 different deals. This shows big belief in India’s automotive future.
Much of this money went to electric vehicle (EV) companies. Ather Energy received $100 million. Ola Electric secured a massive $380 million. Investors are betting big on EVs. This signals a green future for transportation. Are you ready for more electric cars and bikes?
