India's Bajaj Auto has tied up with the UK's Triumph Motorcycles.

The joint venture will manufacture mid-capacity motorcycles for Indian and international markets.

115 years old, Triumph is one of the oldest motorcycle companies in the world. &nbsp;

The tie-up will allow Triumph -- using Bajaj's extensive dealer network and experience -- to break into the small motorcycle market, especially in emerging markets, while Bajaj will get access to Triumph technology and know-how.&nbsp;

"The objective of this non-equity partnership is to deliver a range of outstanding mid-range motorcycles benefiting from the collective strengths of both the companies," Bajaj Auto Managing Director Rajiv Bajaj and Triumph Motorcycles CEO Nick Bloor said in a joint statement.

Bajaj already has a tie-up with the Austrian motorcycle manufacturer KTM.&nbsp;

Bajaj has a 47% stake in KTM and a&nbsp;third of KTM's manufacturing takes place at Bajaj's Chakan plant in Pune.&nbsp;

Bajaj's tie-up with KTM has helped the Austrian motorcycle manufacturer push up global sales from 65,000 units a year to over 200,000.&nbsp;

The Bajaj-Triumph motorcycles will also be made at Chakan.&nbsp;

That means there will finally be four motorcycle brands -- Bajaj, KTM, the Swedish Husqvarna (also owned by KTM), and the Bajaj-Triumph motorcycles -- manufactured at Chakan.&nbsp;

The Bajaj-Triumph motorcycles will finally be sold under the brand name Triumph.&nbsp;

Bajaj will not buy a stake in Triumph.&nbsp;

Bajaj Auto stocks shot up by 3 per cent after the announcement.

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Bajaj stocks rose by 3 per cent after the announcement

India's Bajaj Auto has tied up with the UK's Triumph Motorcycles. The joint venture will manufacture mid-capacity motorcycles for Indian and international markets. 115 years old, Triumph is one of the oldest motorcycle companies in the world. The tie-up will allow Triumph -- using Bajaj's extensive dealer network and experience -- to break into the small motorcycle market, especially in emerging markets, while Bajaj will get access to Triumph technology and know-how. "The objective of this non-equity partnership is to deliver a range of outstanding mid-range motorcycles benefiting from the collective strengths of both the companies," Bajaj Auto Managing Director Rajiv Bajaj and Triumph Motorcycles CEO Nick Bloor said in a joint statement. Bajaj already has a tie-up with the Austrian motorcycle manufacturer KTM. Bajaj has a 47% stake in KTM and a third of KTM's manufacturing takes place at Bajaj's Chakan plant in Pune. Bajaj's tie-up with KTM has helped the Austrian motorcycle manufacturer push up global sales from 65,000 units a year to over 200,000. The Bajaj-Triumph motorcycles will also be made at Chakan. That means there will finally be four motorcycle brands -- Bajaj, KTM, the Swedish Husqvarna (also owned by KTM), and the Bajaj-Triumph motorcycles -- manufactured at Chakan. The Bajaj-Triumph motorcycles will finally be sold under the brand name Triumph. Bajaj will not buy a stake in Triumph. Bajaj Auto stocks shot up by 3 per cent after the announcement.

Bajaj Auto announces tie-up with Triumph Motorcycles

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Bajaj Auto announces tie-up with Triumph Motorcycles