Bajaj Auto Ltd unveiled ambitious plans on Wednesday including buying a stake in a company in the Philippines, Rs 200 crore (Rs 2 billion) of capital expenditure to raise the capacity for the launch of at least two scooters in the 75-100 cc segment.
"We might pick up a stake in the Philippine (company) if it is in mutual interest with Kawasaki," said Bajaj Auto chairman Rahul Bajaj. He did not divulge more details about this prospective acquisition.
Kawasaki is a technology partner of Bajaj and has plants in Philippines.
The head of India's second largest two-wheeler maker was speaking to reporters on the margins of Confederation of Indian Industry's annual meet.
"We will be investing Rs 200 crore for domestic capacity expansion in the next 18 months," Bajaj said.
The expansion would be at the company's three manufacturing units in Maharashtra. The expansion would be for new models, tooling and for improving quality, Bajaj said.