Bajaj Auto is set to disrupt the e-rickshaw market with a new launch soon, says Rajiv Bajaj - CNBC TV18
→ Оригинал (без защиты от корпорастов) | Изображения из статьи: [1]
![[1]](image.php?loc=IN&i=https://images.cnbctv18.com/uploads/2019/06/Rajiv-Bajaj.jpg?im=FitAndFill,width=500,height=300){kind=link}
Homegrown two and three-wheeler manufacturer Bajaj Auto is set to launch an e-rickshaw soon, priced competitively with existing e-rickshaws in the market. Rajiv Bajaj, Managing Director of Bajaj Auto, made this announcement as part of the company's green initiative, which includes a range of electric vehicles under the Chetak brand.
Bajaj, in an interview with CNBC-TV18, said, "We are the world's number one three-wheeler maker; we have 80% of this market. It's almost as if it's our responsibility to move that ahead." He added that the company has gained significant momentum in the e-auto and e-cargo segments, becoming a market leader in the three-wheeler space in markets where they have been present for over three months.
Bajaj also highlighted the potential of the e-rickshaw market, which is as large as the e-auto market with about 50,000-60,000 units sold per month. However, he noted that the current e-rickshaw market is dominated by cheap products made from imported kits that don't meet safety norms. Also Read: Ola Electric dominates with 52% market share in India's electric two-wheeler market
"As the world's largest three-wheeler maker, should we not be looking at this space, not only because it's at least in volume terms as big as this space? So, it makes a lot of business sense, but just so that the whole image of anything on three-wheels, you know, is taken to a certain minimum level at least," he said.
In addition to the e-rickshaw, Bajaj Auto plans to launch a sub-₹1 lakh Chetak electric scooter this month. The company also has plans for at least eight electric products under the Chetak brand over the next three years, including the smallest Chetak, the e-scooter in mid and high capacity, and Chetak on three and four wheels.
In April 2024, Bajaj Auto announced its plans to add one store for every electric auto every two days in the first quarter, effectively doubling its presence.
Also Read: Bajaj Auto launches Pulsar NS400Z, the largest and most feature-rich model yet
Dinesh Thapar, Chief Financial Officer of Bajaj Auto, during a conference call following the company's results, stated that the growth in the three-wheeler segment will be driven by e-autos and the expansion of the compressed natural gas (CNG) network. He further added that advancing their CNG network and scaling EVs in new markets will deliver growth in the three-wheeler segment for the company.
According to Thapar, e-three-wheelers are available in 60 cities and have a market share of 30%. The company plans to scale up its EV presence across the country.
Despite the push for electric vehicles, Bajaj expressed confusion over why governments don't consider reducing taxes on hybrids and CNG. He affirmed that the company will continue investing in internal combustion vehicles.
In March 2024, over 44,000 e-rickshaws were sold by around 500 manufacturers, most of them homegrown. This is in contrast to fewer than 6,800 electric cars sold during the same period. The e-rickshaw segment is not dominated by popular brands like Tata, Ola, and Ather Energy, unlike the four-wheeler and two-wheeler industries.
Also Read: Hero MotoCorp unveils 2024 Harley-Davidson models: Check booking, price details