The partnership will build new engine and vehicle platform in the mid-capacity range of 200-750cc.
"The proposition will be aspirational and affordable with a targeted pricing starting under Rs 2 lacs in India. This will create a new entry point to the Triumph range around the world, and ensure Triumph can compete in important large segments of the global motorcycle market, and attract new customers to the brand," a joint statement by both the two-wheeler makers said.
It further said that the strategic partnership will benefit both parties with Bajaj becoming one of Triumph's key distribution partners in crucial new markets for the Triumph brand around the globe.
Going forward, Bajaj will take over Triumph's Indian distribution activities, at a date yet to be confirmed, leveraging the great expertise that Bajaj has in this region.
In their other key overseas markets, where Triumph is not currently present, Bajaj will represent Triumph and offer the new mid capacity bikes as part of the full Triumph line-up. In all other markets where Triumph is present today, the motorcycles developed together from this partnership will join the current Triumph product portfolio and be distributed by the Triumph led dealer network worldwide, as per the statement.
Commenting on the partnership, Triumph Motorcycles CEO, Nick Bloor, said: "This is an important partnership for Triumph and I am delighted that it has now formally commenced. As well as taking our brand into crucial new territories, the products that will come out of the partnership will also help attract a younger, but still discerning, customer audience and is another step in our ambitions to expand globally, particularly in the fast-growing markets of South East Asia, but also driving growth in more mature territories like Europe."
( With inputs from IANS )