Separate Subsidiary For EVs Worth Rs 100 Cr Proposed: Bajaj Auto

In a race to win the Electric Vehicles (EV) space in the market, Bajaj Auto, India's leading two-wheeler manufacturer and exporter is planning to set up a fully-owned subsidiary in the electric and hybrid two-wheeler, three-wheeler, and light four-wheeler categories. It will propose an authorized capital of Rs 100 crore, the company said. The name of the entity and approval from the Ministry of Corporate Affairs is still pending.