Also drives into Indonesia

Bajaj Auto is setting up a joint venture in Indonesia, for which it has got the necessary approval from the Indonesian government, according to Sanjiv Bajaj, executive director of the company. 8216;8216;The approval to set up the assembling unit, to come up at a cost of 50 million, was received a month ago and the joint venture would be called PT Bajaj Auto Indonesia,8217;8217; Bajaj said.

The JV will begin with an initial investment of 12.5 million. An Indonesian citizen, Doentora, will hold a 5 stake to Bajaj Auto8217;s 95.The assembly unit will begin functioning from next month for three-wheelers, Pulsar motor-cycles would be introduced in Indonesia, he said.