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Mumbai, May 22 Bajaj Auto is working out a voluntary retirement scheme for the workers of its now-closed unit at Akurdi in Pune and it will be announced shortly, Mr Rajiv Bajaj, Managing Director, Bajaj Auto, said.

“We are close to finalising a package, a new voluntary retirement scheme,” Mr Bajaj told reporters here today.

He hoped that the package would be finalised within the next six weeks.

Mr Bajaj, however, declined to share details of the proposed package.

The company had announced the closure of its two-wheeler manufacturing unit at Pune last September after a sharp decline in the demand of two-wheelers in the domestic market.

The company has announced a capex plan of Rs 100 crore for the current fiscal. This does not include its investments in the proposed ultra low-cost car project. “About 90 per cent of the Rs 100 crore capex is for R&D of new products in two- and three-wheeler segments. We have no capacity expansion plans,” he said.

He said that the company would be launching improved versions of its three-wheelers by the end of this year. “This will be one each in passenger and goods carrier segments.”

On two-wheelers, Mr Bajaj said the focus would be on above 125 cc segment.

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