Pune-based Bajaj Auto is exploring to expand its electric three-wheeler portfolio. Electric three-wheelers constitute 10 per cent of the portfolio of its three-wheeler business.
The company is offering its electric three-wheelers in 140 cities, mainly catering to North India including Uttar Pradesh and the North-East.
“The case for electric three-wheelers opposite the CNG three-wheeler is not so strong, whereas people migrate very fast from diesel three-wheelers to CNG three-wheelers. People are migrating from e-rickshaws, which are far cheaper than e-autos. The e-rickshaws are largely sold in the North and East. And as we have grown our share in some places in the North, we are reaching 60-70 per cent. The share is of the total market and includes many e-rickshaws, particularly end-of-life e-ricks within two-three years. If an e-rick owner has been riding the lead asset e-rick for about two or three years, it is a hot target for us to convert into an e-auto because they know the pattern of traffic. That is a source of income. They want to move on from e-ricks to a more substantive format. So that is why I’m saying that the e-auto, even if we place it all-India, gives us far better traction in those markets where CNG is not allowed and where e-rickshaws are already on the road,” said Rakesh Sharma, Executive Director of Bajaj Auto, in an earnings call.
New plant
“We are conscious that it is catering to a certain need of larger passenger carrying capacity over shorter distances and development is very much in the cart. We know that we will have to extend our electric three-wheeler portfolio to address the needs of that segment. We want to be a full-range player in the full three-wheeled market all fuel,” he added.
Further, Bajaj Auto is also commissioning a new manufacturing facility at a cost of nearly ₹800 crore for its electric three-wheelers in Waluj, Maharashtra.