Bajaj Auto Ltd (BAL), which recently introduced the Chetak Premium 2023 Edition, is going full throttle in the e-scooter segment. The Pune-based automaker is working on another variant of the Chetak e-scooter and looking to quadruple e-scooter sales. However, the company has not yet firmed up plans to come up with electric variants of its workhorses Platina or Pulsar in the near to medium term.
Rakesh Sharma, executive director, Bajaj Auto, told Moneycontrol, “I feel that electric transition which is happening for EV business is first happening in the scooter format because of its shorter distance commute. On the motorcycle front, we are working closely with KTM but those are a very different set of bikes from let's say ‘Platina’ or ‘Pulsar’. Though we are working in that direction and not too much on the commuter side, which we are attacking through the Chetak.” However, he maintained that the automaker is open to the idea in the long term if the market dynamics change.
Sharma’s comments come at a time when multiple EV startups are either developing or working on e-motorcycles to disrupt the ICEV market. Recently, Matter introduced the country’s first geared motorcycle market to take on buyers who opt for Bajaj Pulsar, TVS Apache, etc. It is also working on an electric bike that will be taking on commuter ICE bikes like Bajaj Platina, Hero Splendor, etc.
E-scooter sales target
In the e-scooter segment, BAL is looking to quadruple its monthly sales from 2,500 units per month last year to 10,000 units in the next few months. “From this month itself, you will see the sales going up very smartly. We would have liked it if it was 5,000 units (per month) earlier but this month onwards we are very hopeful of (getting) that number. And in another two to three months, we will be doubling the number. We have also recently expanded our Chetak range and hopefully, by next year, we will be able to expand the Chetak portfolio too."
Already a market leader in the three-wheeler market, Bajaj Auto is also on course to roll out its maiden electric three-wheeler in the near term. “We are readying dealerships and training the manpower. Hopefully, soon we will be dispatching the three-wheelers. We have very good brands and understanding of the requirements of the customer. And hopefully, we will win the trust of the customer on the basis of the superior product which we deliver.”
Traditional market
Meanwhile, Bajaj Auto has reaffirmed that despite diversifying into electric vehicles it will not reduce its focus on the traditional two-wheeler market. The company will primarily concentrate on introducing products in the 125cc and above segments. “We will consistently launch products in the next 12 months, which will be in that upper segment (of the motorcycle market). By the next financial year, we will be presenting a new Triumph motorbike which we have co-developed with them. Putting all this together, it's a pretty rich pipeline of products under different brands, covering different segments, which would benefit us both domestically and overseas.”
On the projected outlook for this financial year, Sharma said, “Going forward, we are optimistic because the domestic market is on a growth path. I am not saying we are growing rapidly we're growing in single digits, which is welcome. And I am hoping that in another six months’ time, things will stabilise internationally. I am hoping that the topline will perform much better than last year. And much better than the industry and ahead of the last financial year.”
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