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Bajaj Auto to take control of KTM with $906 mn debt deal
VCCircle
·
2m ago
Medial
Bajaj Auto plans to take control of KTM AG through an 800 million euro ($906.2 million) debt package to revive the ailing Austrian motorcycle maker. Bajaj, a minority investor since 2007, will strategically lead governance and inject fresh capital to restore operations. KTM, which faced liquidity issues, will see creditors receive 30% of claims by May 23. Bajaj's investment includes 200 million euros already infused and an additional 600 million euros planned, acquiring control of Pierer Mobility AG.
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Bajaj Auto invests Rs 1,364 crore in bankruptcy-bound KTM
Business Today
·
5m ago
Medial
Bajaj Auto is investing Rs 1,364 crore in the financially troubled KTM through its Netherlands-based holding company, acquiring a 49% stake. KTM is undergoing restructuring due to significant financial needs, with its management expressing doubts about securing necessary interim financing timely. The partnership between Bajaj Auto and KTM began in 2007. KTM announced an emergency restructuring in November 2024, expected to conclude by February 2025, amid Bajaj's concerns over recoverability of export money.
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Mobility startup Yulu bags $19 mn from existing investors
VCCircle
·
1y ago
Medial
Yulu, a shared electric two-wheeler mobility company, has raised $19.25 million in equity funding from existing investors Magna and Bajaj Auto. Bajaj Auto invested $5.8 million for a 1% stake in the company, bringing its total stake to 18.8%. The additional capital will be used to support Yulu's growth and expand its operations and technology innovation. Yulu currently operates in several Indian cities and offers electric bike rental services and EV charging and battery swapping networks. The company is also planning to raise its Series C funding round in the near future.
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Yulu raises $19.25 mn from Magna and Bajaj Auto, eyes expansion & new product launch
Economic Times
·
1y ago
Medial
Yulu Bikes, a shared mobility services provider, has raised $19.25 million in funding from existing investors Magna and Bajaj Auto. The funds will be used to launch a new product, expand the company's reach, and develop technology. Yulu has experienced a significant increase in demand, particularly in Gurugram and Mumbai. The company plans to introduce a new electric scooter for e-commerce deliveries and expand operations to five more metros by 2024. Yulu aims to deploy about 100,000 electric two-wheelers this year and is also exploring opportunities for international exports with its partner Bajaj Auto.
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Two-Wheeler EV Sales Slowdown In Sept; Ola Electric’s Market Share Drops, Bajaj Overtakes TVS
Inc42
·
10m ago
Medial
- Bajaj Auto's electric scooter (escooter) sales reached an all-time high in September, surpassing TVS Motor in India. - Bajaj Auto recorded 18,933 electric vehicle (EV) registrations in September, up from 16,650 units in August. - Bajaj Chetak sales witnessed a remarkable 166% year-on-year growth. - The surge in Bajaj Auto's EV registrations indicates a shift in the Indian market towards electric two-wheelers. - This sales surge brings Bajaj Auto closer to Ola Electric in terms of registrations.
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‘Ola toh Ola hai, Chetak shola hai’: Rajiv Bajaj takes dig at Ola Electric | Company Business News
Livemint
·
8m ago
Medial
Bajaj Auto's CEO Rajiv Bajaj claimed that the Bajaj Chetak has become the best-selling electric scooter in India, surpassing rival Ola. With over 300,000 units sold to date, Bajaj Auto is set to launch a new model of the Chetak on December 20. Ola Electric currently leads the electric two-wheeler market in terms of market share, but Bajaj's announcement showcases the growing competition in India's EV market.
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Electric mobility startup Yulu raises Rs 25Cr debt from Northern Arc
IndianStartupNews
·
1y ago
Medial
Electric mobility startup, Yulu, has secured Rs 25 crore in debt funding from Northern Arc Capital. The funding was raised through the issuance of non-convertible debentures, with each debenture priced at Rs 1,00,000. Yulu aims to enhance urban mobility solutions and offers last-mile connectivity through its network of electric bikes and battery swapping facilities. The startup had previously raised $82 million in a Series B equity funding round and has strategic partnerships with Bajaj Auto and Magna International.
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Tata Motors, M&M, three others may raise Rs 2k cr and PLI claims
Economic Times
·
1m ago
Medial
Tata Motors, Mahindra & Mahindra, Bajaj Auto, Ola Electric, and TVS Motor Company are expected to claim over ₹2,000 crore under the Production Linked Incentive (PLI) scheme for automotives in the current fiscal year. Bajaj Auto may claim ₹630 crore, Tata Motors ₹409 crore, and Ola Electric ₹380 crore, with others following. Despite significant claims, they are short of FY26 budget estimates. The scheme has prompted domestic investments of ₹29,576 crore until 2025.
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Bajaj Auto share price zooms 2.3% to 52-week high after robust August Auto sales
Money Control
·
11m ago
Medial
Bajaj Auto's share price soared to a new 52-week high following strong August 2024 auto sales figures. The company reported a 16% increase in sales of two-wheelers and commercial vehicles compared to the previous year, with a total of 397,804 units sold. In the two-wheelers category, sales rose by 18% to 335,178 units, while commercial vehicles sales increased by 11% to 62,626 units. Bajaj Auto also achieved an 18% rise in its Q1 FY25 consolidated net profit.
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Exclusive: Yulu To Raise $8.2 Mn From Cofounders Via Rights Issue
Inc42
·
1m ago
Medial
Yulu, an electric mobility startup, is raising INR 70 Cr (around $8.2 million) from cofounders and existing investors through a rights issue. Key investors include Bajaj Auto and Magna International, with cofounders Amit Gupta, Hemant Gupta, Naveen Dachuri, and Rajendra Kumar Mishra contributing varying amounts. Yulu aims to secure $100 million in its upcoming Series C round to continue its growth trajectory, with plans to capitalize on the demand in the gig economy electric vehicle space.
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Riding on CNG, can Bajaj Auto raid Hero MotoCorp’s fortress?
Livemint
·
1y ago
Medial
Bajaj Auto, led by Rajiv Bajaj, has unveiled the world's first motorcycle that runs on compressed natural gas (CNG), called Freedom. This move is an attempt to make inroads into the entry-level motorcycle market dominated by Hero MotoCorp. Bajaj Auto, which had previously exited the scooter market, has seen a decline in motorcycle sales as well, losing market share to rivals. The CNG motorcycle offers lower running costs and higher mileage compared to petrol motorcycles, addressing concerns about rising petrol prices and fuel economy. Bajaj aims to tap into the potential of the commuter segment and plans to expand exports to various countries.
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