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Bajaj Auto to set up asembly plants in Indonesia, Brazil
By siliconindia staff writer
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Friday, 19 March 2004, 20:30 IST
BANGALORE: Bajaj Auto Limited would open assembly plants in Indonesia and Brazil in a bid to boost overseas presence even as it has lined up four launches in the next six months to drive further domestic growth, a top company official said.
The company's vice-president (finance) Sanjiv Bajaj told reporters that the Indonesian plant would be set up in the next nine to 12 months, and the Brazilian one within three years and they would cater to South East Asian and South American markets respectively.
Both plants are expected to come up in collaboration with partners. While investment details are yet to be worked out, Bajaj indicated that it won't be a problem, noting that the company is sitting on a cash surplus of Rs 4,000 crore.
The initiatives stem from a huge jump in the company's exports. A company source told PTI that Bajaj Auto was planning to go to Pakistan in the next 10 days to firm up plans to sell the company's range to motorcycles there in collaboration with a local partner, subject to Government clearance.
From the level of 25,000-30,000 units four years ago, the Pune-based company exports would touch 1.5 lakh units for 2003-04. Five years on, the company has set an annual export target of five lakh units.
Currently, as much as 60 per cent of the company's exports comes from Bangladesh and Sri Lanka and 25 per cent from South America. The company has sold over 1000 motorcycles in Indonesia, Bajaj said.