Speaking exclusively to CNBC-TV18, Bajaj Auto Managing Director Rajiv Bajaj highlighted the company’s success in the e-rickshaw and e-truck sectors, where it has already emerged as a market leader. Bajaj Auto, with years of experience in manufacturing and exporting CNG three-wheelers, ventured into the electric three-wheeler market in May last year.
Bajaj Auto sold over 56,000 three-wheelers in July 2024, a year-on-year growth of 11%, with 14,478 units exported, reflecting a 6% increase. In Q1FY25, the company reported a 9% increase in three-wheeler sales, with over 151,000 units sold.
To strengthen its position and achieve its target of 80% market share in the electric segment, Bajaj Auto plans to ramp up production. “We will ship over 40,000 CNG three-wheelers. We are very pleased with the success of our electric three-wheeler, of which we will aim to manufacture close to 6,000 or a little more in the next month,” Rajiv Bajaj said.
He also mentioned that the company is nearing a milestone of 100,000 clean energy vehicles sold, including electric and CNG three-wheelers and two-wheelers. Looking ahead, Bajaj Auto plans to launch an electric rickshaw in FY26, which is expected to boost its presence in the three-wheeler segment.
The company has also been developing hydrogen-powered vehicles and ethanol flex-fuels. Bajaj revealed, “The company will showcase an ethanol-powered two-wheeler and three-wheeler in Delhi in September, which will be followed by a launch during FY2025.”
Bajaj Auto’s R&D team is also working on hydrogen-powered vehicle prototypes, though no timeline has been set for their launch. When asked about the possibility of partnerships or mergers in the two-wheeler or three-wheeler sectors, Rajiv Bajaj hinted that there would be a major collaboration in the future. Bajaj Auto, known for making KTM, Triumph and Husqvarna bikes, is exploring a partnership to enhance its presence in the urban mobility segment.
“We are certainly discussing amongst ourselves the possibility of something that can be broadly called urban mobility. As we move forward, the world certainly needs, in its major cities if not elsewhere, more sustainable mobility. So I think we may have the opportunity to establish a very significant global partnership in that area,” he said, although he noted that talks are still in the early stages and no decision has yet been made.
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