Triumph Motorcycles and Bajaj Auto India have announced a non-equity partnership to build a new range of mid-capacity motorcycles.
The much-touted tie-up was finally announced on Friday in Pune, India.
A statement from Triumph said that the partnership would see the two companies “use their respective strengths in large and small capacity motorcycles to collaborate to design, engineer, and manufacture mid-capacity motorcycles”.
“Triumph will seek to further expand its global reach, with the partnership offering a new mid-sized sector opportunity and, importantly, a new entry point to several high-volume emerging markets, including India and other Asian markets,” said the Hinckley company.
“The strategic partnership will benefit both parties, with Bajaj becoming one of Triumph’s key distribution partners in crucial new markets for the Triumph brand around the globe. Bajaj will take over Triumph’s Indian distribution activities, at a date yet to be confirmed, leveraging the great expertise that Bajaj has in this region.
“In their other key overseas markets, where Triumph is not currently present, Bajaj will represent Triumph and offer the new mid-capacity bikes as part of the full Triumph line-up. In all other markets where Triumph is present today, the motorcycles developed together from this partnership will join the current Triumph product portfolio and be distributed by the Triumph led dealer network worldwide. This will truly unlock the potential on a global scale.”
CRUCIAL NEW TERRITORIES
Triumph said the partnership would build new engine and vehicle platforms in the mid-capacity range (200- 750cc) and offer multiple options to address different segments in this class. The new models would be “aspirational and affordable” and create a new entry point to the Triumph range around the world.
Triumph Motorcycles CEO Nick Bloor said: “This is an important partnership for Triumph and I am delighted that it has now formally commenced. As well as taking our brand into crucial new territories, the products that will come out of the partnership will also help attract a younger, but still discerning, customer audience and is another step in our ambitions to expand globally, particularly in the fast-growing markets of Southeast Asia, but also drive growth in more mature territories like Europe.”
Rajiv Bajaj, MD of Bajaj Auto India, said: “The Triumph brand is an iconic one the world over, so we are confident that there will be a huge appetite in India and other emerging markets for these new products.
“We look forward to working alongside such a famous motorcycle company and to leveraging each other’s strengths and expertise to make the relationship a success for everyone.”
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TRIUMPH AND BAJAJ
Building more than 60,000 bikes per year, Triumph is the largest British motorcycle manufacturer and has around 650 dealers across the world.
The Bajaj Group was founded in 1926, incorporated in 1956 and is based in Mumbai.
In the fiscal 2018-19, the company recorded total turnover of £3.52 billion and the company says it is India’s largest exporter of two and three-wheelers, having exported over 2 million units, representing 40% of its production to over 79 countries through a wide network of international distributors all over the world in 2018-19.