India's second-largest motorcycle maker Bajaj Auto Ltd has acquired a 14.5 percent stake in Austria's KTM Power Sports, one of Europe's largest sports motorcycle manufacturers, it was announced Monday.KTM will provide the know-how in the joint development of water-cooled 4-stroke 125cc and 250cc engines, to be used as the basis for products from both companies.Bajaj will take over the sales of KTM products in India and Southeast Asia, opening up the Asian market for the Austrian producer. Bajaj acquired the KTM stake through its 100 percent-owned Dutch unit for Rs.3 billion ($76.3 million), the company said in a statement.KTM CEO Stefan Pierer welcomed the development, saying the cooperation was a great chance to 'strengthen the KTM Group in its sustained growth strategy in a global environment'.KTM is listed on Vienna's stock exchange and reported revenues of 599.1 million euros ($866 million) in the previous business year.Bajaj Auto Ltd ranks among the world's top five motorcycle producers, reporting revenues of 2.9 billion euros ($4.1 billion) and 220 million euros ($318 million) consolidated net profits.
--source - advrider
When will I see a KTM @ a Bajaj delership? one thing is sure - Beg,borrow or steal, i will most probably get my hands on one when they come to India. What more can a off-road dreamer like me can ask...
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