Over the last decade, the company has successfully changed its image from a scooter manufacturer to a two wheeler manufacturer. Its product range encompasses Scooterettes,Scooters and Motorcycles. Its real growth in numbers has come in the last four years after successful introduction of a few models in the motorcycle segment.The company is headed byRahul Bajajwho is worth more than US$1.5 billion.
Bajaj Auto came into existence on November 29,1945as M/s Bachraj TradingCorporation Private Limited. It started off by selling imported two- and three-wheelers inIndia. In 1959, it obtained license from theGovernment of Indiato manufacture two- andthree-wheelers and it went public in 1960. In 1970, it rolled out its 100,000th vehicle. In1977, it managed to produce and sell 100,000 vehicles in a single financial year. In 1985,it started producing at Waluj inAurangabad. In 1986, it managed to produce and sell500,000 vehicles in a single financial year. In 1995, it rolled out its ten millionth vehicleand produced and sold 1 million vehicles in a year.
According to the authors of
Globality: Competing with Everyone from Everywhere for Everything
, Bajaj has grown operations in 50 countries by creating a line of value-for-money bikes targeted to the different preferences of entry-level buyers.
The demerger of Bajaj Auto Ltd into three separate corporate entities—Bajaj Finserv Ltd(BFL), Bajaj Auto Ltd (BAL), and Bajaj Holdings and Investment Ltd (BHIL)—wascompleted with the shares listing on May 26, 2008.
In November 2007, Bajaj Auto acquired 14.5% stake inKTMPower Sports AG (holdingcompany of KTM Sportmotocycles AG). The two companies have signed a cooperationdeal, by which KTM will provide the know-how for joint development of the water-cooled four-stroke 125 and 250 cc engines, and Bajaj will take over the distribution of KTM products in India and some other Southeast Asian nations.
Bajaj said it is open totaking a majority stake in KTM and is also looking at other takeover opportunities. Onthe 8th of January 2008, Managing Director Rajiv Bajaj confirmed the collaboration andannounced his intention to gradually increase Bajaj's stake in KTM to 25%.