There is good news for Bajaj Auto. CNBC-TV18 understands from sources that the government will notify Quadricycle norms shortly.
Sources say the government committee, headed by the secretary of Road and Transport, has given its approval to the European Quadricycle norms. However, it has decided against the phased implementation of quadri norms.
Sources say the government may issue the Quadricycle notification in a week or so.
Sources say Quadricycles will be classified as commercial vehicles with a maximum weight of 450 kilogram, a top speed of about 70 kilometer per hour. Norms may not permit it to be used as a highway vehicle.
This will be a big boost for Bajaj Auto, which is manufacturing the first quadricycle: RE60. It has been designed as per the European norms. Bajaj has positioned the quadricycle as an upgrade over the three-wheeler.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!