Pune-headquartered two- and three-wheeler major Bajaj Auto has signed an MoU with the government of Maharashtra to set up a new manufacturing facility on a proposed investment of Rs 650 crore in Chakan, Maharashtra.

The new facility is expected to commence production in 2023 and will manufacture high-end KTM, Husqvarna and Triumph motorcycles as well electric vehicles starting with the Chetak.

As per the MoU, the government of Maharashtra will facilitate Bajaj Auto in obtaining all necessary permissions/ registrations/ approvals/ clearances/ fiscal incentives among others, from the concerned departments of the state, as per the existing policies/rules and regulations of the government of Maharashtra.

Bajaj Auto says the proposed investment further reinforces its commitment  to the state of Maharashtra where the company's journey began 75 years ago.