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Bajaj Auto is gearing up to enter the domestic e-rickshaw segment by the end of this fiscal. According to the company’s Executive Director, Rakesh Sharma, Bajaj Auto expects to receive regulatory approvals for its new e-rickshaw by the end of this quarter. Following this, the company will enter a market that sells approximately 45,000 units per month.
Sharma stated, "We plan to launch a modern 'e-rick' by the end of this financial year, which will set new standards in this segment."
He further mentioned that the e-rickshaw segment is as large as the auto segment, and Bajaj’s new e-rickshaw will open new business opportunities for the company. Regarding the launch timeline, Sharma said, "We expect to launch it by the end of March or in the first week of April."
Growing Opportunities in the E-Rickshaw Market
Explaining the market potential, Sharma said, "Around 45,000 e-rickshaws are sold every month, but the market is highly fragmented. Many products depend on imports and lack quality. Our goal is to organize this market and provide a superior product."
Bajaj Strengthening Grip with Chetak E-Scooter
Bajaj Auto also plans to expand its presence in the EV market through its electric scooter, Chetak. The company recently introduced new variants based on the '35 Platform', featuring higher range, advanced displays, fast charging, and a spacious boot.
Sharma stated, "The scale-up of the 35-Series will begin in February, leading to a significant jump in profitability in the fourth quarter."
Bajaj Moving Towards a Stronger EV Market Position
To strengthen its EV business, Bajaj Auto has opened over 250 exclusive stores and expanded its dealership network to more than 3,000 sales points. Sharma added, "With the new platform and an expanded distribution network, Bajaj Auto is moving towards a strong leadership position and a profitable business."
