The quadricycle is currently under the ‘business development’ phase, says a senior company official. It will see a commercial roll-out, once it is homologated by the Automotive Research Association of India next year
Bajaj Auto's embattled Qute quadricycle, which the company already exports to 16 countries, today found backing from the government when the Supreme Court was hearing a public interest litigation (PIL) filed against it.
While the SC adjourned the matter for final hearing on December 2, the government is expected to submit its reply by then.
Bajaj Auto Managing Director Rajiv Bajaj says the RE60 quadricycle, christened Qute, will be produced at its Aurangabad unit, that has total capacity of 55,000 units.
Bajaj Auto plans to start exporting its much-delayed quadricycle, christened as Qute, across various global markets by month-end even as it awaits Supreme Court verdict to introduce it in the domestic market.
In an interview to CNBC-TV18, Rajiv Bajaj, MD, Bajaj Auto, said there has been a visible improvement in demand and that the existing capacity at Chakan may fall short in 12-18 months.
Nitin Gadkari hopes to get Cabinet nod for changes to the Motor Vehicle Act soon, which he adds would be based on the US and UK norms. He hopes to move amendments to the Act in this session.
Unlike the quadricycle which has only been approved by the government for commercial use, the new vehicle will target personal users.
The final notifications for the quadricycle is imminent because the issue is currently lying with the law ministry. The notification should then be in place within a month.
Fearing competition from the proposed "Quadricycle", various auto rickshaw operators across the country have opposed the government's plan of allowing such vehicles to ply on city roads.
Ashoka Buildcon | Ess Dee Aluminium | Hexaware Technologies | United Spirits | Tilaknagar Industries | Unitech | Financial Technologies | TCS | Eros International | Hanung Toys | Tata Motors and Maruti are stocks, which are in the news today.
Credit Suisse has cut FY14 two-wheeler volume growth to 5 percent, but increased margin forecast for FY15-16 to 21 percent.
Rajiv Bajaj, MD, Bajaj Auto says the company will not look for new partners for its quadricycle project.
Piaggio Vehicles, the only major automaker that has quadricycles plying on European roads lashed out at the way in which norms for this category of vehicles were recently cleared in India.
Bajaj Auto, the world's largest three-wheeler maker, expects to launch its four-wheeled passenger carrier RE60 by end of the current financial year.
Oscar Fernandes was appointed as the Transport Minister in the Cabinet reshuffle that took place earlier in June. Many thought that there might be a delay in the draft notifications that need to be sent to the Law Ministry.
In an interview with the Business Standard paper, Rajiv Bajaj, says companies are opposed to quadricycles being approved for personal use becuase there is a fear it could hurt their small car sales.
Sources say the government committee, headed by the secretary of Road and Transport, has given its approval to the European Quadricycle norms.
The much touted 3-wheeler on four wheels -- or the Quadricycle -- could soon be a reality with industry reaching near consensus on three key parameters.
In what would give a big boost to Bajaj Auto--the only company that is production ready with a 4-wheel Quadricycle, the RE60--the government is looking to fast-track the norms for this new segment. CNBC-TV18‘s Ronojoy Banerjee reports.
In a move that could impact the entire auto universe, the government has given approval for recognizing a new segment in the automobile space which could see a new wave of innovation among OEMs.