By IBTeam Bajaj Auto, one of India’s leading electric two-wheeler manufacturers, is taking bold steps to enhance its position in the electric vehicle (EV) market. The company has revealed plans to expand its offerings with five new models of the Chetak electric scooter and an equal number of electric three-wheelers, catering to both commuter and cargo needs.
MD Rajiv Bajaj Outlines Growth Strategy
Speaking about the company’s vision, Rajiv Bajaj, Managing Director of Bajaj Auto, stated, “The rapid launch of new products in the coming months will strengthen our EV portfolio. With the introduction of our e-rickshaw, we aim to exit FY25 with an annual sales rate of half a million units.”
Introduction of a New Electric Three-Wheeler Brand
In addition to expanding its Chetak scooter lineup, Bajaj Auto is set to launch a dedicated brand for its electric three-wheeler segment. This move will separate the identity of the company’s electric three-wheelers from its Chetak scooters, mirroring the strategy used for its highly successful CNG three-wheeler range.
The e-rickshaw, a key component of the new brand, is scheduled for release in the first quarter of FY26. This product is expected to significantly boost sales volumes, particularly in the commuter and cargo markets.
Dominance in the Three-Wheeler Market
Bajaj Auto already holds a commanding position in the CNG three-wheeler space, with an 80% market share. Additionally, it has established itself as a leader in the electric three-wheeler segment, capturing 36% of the market for commuter and cargo vehicles.
Market Leadership in Electric Scooters
In December, Bajaj Auto achieved the top spot among electric scooter manufacturers, selling over 8,275 units and capturing 28% of the market share. Competitors TVS and Ola Electric followed, with 22% and 18.3% market shares, respectively.
Launch of a New Chetak Scooter with Advanced Features
Bajaj Auto is set to launch a new variant of its Chetak electric scooter on December 20. This upgraded model will feature a larger battery, an extended range, and additional features, enhancing its appeal to urban commuters.
Scaling Production to Meet Future Demand
To meet its ambitious target of selling over half a million electric vehicles annually by FY26, Bajaj Auto is ramping up production capacity. By March 2025, the company’s manufacturing facilities will achieve a monthly capacity of 40,000 electric two- and three-wheelers, with further expansions planned for FY26.
Remarkable Performance in FY25
So far in FY25, Bajaj Auto has sold 1.77 lakh electric two- and three-wheelers, establishing itself as the leading EV original equipment manufacturer (OEM) in terms of volume.
A Promising Road Ahead
With its aggressive expansion strategy, innovative products, and robust market position, Bajaj Auto is well on track to redefine the EV landscape in India. By diversifying its portfolio and leveraging its manufacturing prowess, the company is poised to make significant strides in the fast-evolving electric vehicle market.