Two senior officials at Triumph said that product development cooperation between Pune-based Bajaj Auto and British company Triumph Motorcycles was not affected by multiple delays between the two companies to reach a formal agreement.
They said the victory had already conducted early tests on prototypes. In fact, Bajaj Auto's president, Rajiv Bajaj, visited Triumph headquarters in Hinckley, UK, three weeks ago to verify product development. `` We have not diminished our cooperation in product development, '' Steve Sargent, product manager at Triumph Motorcycles, told ET outside EICMA 2019 in Milan.
The two companies announced plans to jointly develop cars in August 2017, but a formal agreement between them has been delayed several times since then. "It's very complicated when two well-known brands try to standardize," said Paul Stroud, commercial director of Triumph Motorcycles. 'We see this as long-term cooperation between us and Bajaj, so we both want to do well.'
Sargent and Stroud said the two companies were close to a deal, but products under the marriage would only appear on the market by 2022.
The agreement would be based on royalties in which the two companies would retain intellectual property rights, they said, adding that there would be no mutual participation in any way. As part of the collaboration, companies will develop several medium-weight motorcycles on a new engine platform, which will then be manufactured by Bajaj and marketed by Triumph in the country.
We use necessary and (optional) analytics cookies on our websites to analyze traffic and personalize content.
do not want us to use optional cookies. We will set a cookie on your device to remember and honor your preference.1