Two-and-three-wheeler manufacturer Bajaj Auto has entered into an MoU with the Maharashtra government to set up a manufacturing facility in the state.
The MoU envisages a proposed investment of Rs 650 crore in the state's Chakan.
"The facility is expected to commence production in 2023. This facility will be utilised for manufacturing high end KTM, Husqvarna and Triumph motorcycles as well as for electric vehicles starting with Chetak," the company said in a statement.
"Under the arrangement, the government of Maharashtra will facilitate Bajaj Auto in obtaining necessary permissions or registrations or approvals or clearances or fiscal incentives etc from the concerned departments of the state, as per the existing policies or rules and regulations of the government of Maharashtra."