Bajaj KTM bikes to cost more than Rs 1 lakh


India's No.2 motorcycle maker Bajaj Auto, which is jointly developing power bikes with Austria's KTM, plans to launch a model in the next financial year, a top official said on Tuesday.

"The product...will first be launched in Europe and then in India, sometime during the next financial year," S. Sridhar, chief executive officer of Bajaj Auto's two-wheeler unit told reporters.

The bike, to be assembled at the company's plant in Pune, will be marketed under the KTM brand and would be priced at more than 100,000 rupees ($2,096), Sridhar said.

In April, Bajaj Auto said it had invested 20 million euros to raise shareholding in KTM to 35.7 per cent from 31.9 per cent.