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Rajiv Bajaj, Managing Director, Bajaj Auto, lashed out at the auto industry’s opposition to creating a separate category for the quadricycle, saying it amounted to cartelisation.
Skipping his customary address, but responding to shareholders’ queries at the company’s AGM here, Bajaj said companies such as Tata Motors and TVS, which opposed it, were jealous as they were not ready.
Referring to Italian automaker Piaggio’s comment that quadricycle needed time and a level playing field, Bajaj asked why Piaggio’s did not bring the vehicles to India when it was selling them in Europe.
Categorical that Bajaj Auto was an “anti-car company,” Rajiv Bajaj said the Aurangabad plant is ready to produce the RE60 the day it gets the permission to do so.
Bajaj Auto plans to invest Rs 400 crore this fiscal — Rs 100 crore on R&D and the rest on the RE60 and capacity expansion.
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