Bajaj auto itself announces that it is now the first two-wheeler company in the world with a market value of Rs 1 lakh crore(USD 13.6 Billion). As per Analysts also, no other two-wheeler company has achieved a market capitalization of 1 lakh crore.
The company achieved the magical number when its share closed on Rs 3479 on National Stock Exchange(NSE) on Friday. Bajaj auto is in the business for the last 75 years. Crossing a valuation on the 75th anniversary is the icing on the cake.
Journey to the Most Valuable Two-Wheeler Company
Compare to the December 2019 auto sale of 336055, bajaj auto-recorded 11 percent higher sales in December 2020. Numbers, a total of 372532 units were sold in December of 2020.
Domestic sales of the company went down by 9% while comparing December 2020 with December 2019. The auto company observed an export rise of 27% compared to December month of last year. Company exports vehicles to 70 different countries in the world.
Rajiv Bajaj’s tenure as CEO of Bajaj Auto was to be expired on 31st March 2020, but the board has reappointed him as the CEO for the next 5 years.
While talking about the recent developments, Mr. Rajiv Bajaj, Managing Director, Bajaj Auto, said “The company’s sharp focus on the motorcycles category and its unwavering commitment to strategies of differentiation as well as the practice of TPM combined with global ambitions have today made Bajaj the most valuable two-wheeler company across the globe. This inspires us, even more, to serve and delight customers all over the World”.
Future Manufacturing Plans and Partnership with other Companies
The company has a plan to open its fourth manufacturing unit in Chakan. The auto company already has one manufacturing unit in Chakan. Town Chakan comes under the district of Pune. Bajaj Auto’s two other manufacturing units are in Aurangabad, Uttarakhand. The company has a plan to manufacture electric two-wheelers in the new plant of Chakan. Total Rs 650 crore will be used to build this new innovative manufacturing unit. Bajaj Auto launched an electric scooter at the beginning of 2020.
Bajaj auto is having a valuable partnership with Kraftfahrzeuge Trunkenpolz Mattighofen (KTM) AG of Austria. Premium sports motorcycles are the main manufactured product of KTM. Bajaj Auto helps KTM in designing the motorcycle. Manufacturing of premium motorcycles of KTM takes place in India and then they are exported to the world. With the help of Bajaj Auto, KTM has become the largest premium motorcycle manufacturer.
A similar kind of agreement is also signed with UK-based Triumph Motorcycles.