Bajaj said the company is now sourcing Low Rare Earth (LRE) magnets from China, which it is also trying to source from other suppliers too, while working on solutions without involving rare earth magnets.
The MD&CEO of Bajaj Auto is the only one in his family who hasn’t gone to business school. His management insights have evolved on the job and from eclectic sources such as Charles Darwin’s concept of “survival of the fittest”. He shares his ideas on how to seamlessly blend the accumulated wisdom of a legacy business with the disruptive potential of a startup.
Bajaj Autos' MD and CEO Rajiv Bajaj had suggested splitting the two businesses to his father — former Bajaj Autos' chairperson Rahul Bajaj.
When his father said, 'Do what you think best, but the best in what you do', young Rajiv Bajaj interpreted it as his way of saying, "Be a global player. Be the best in the world. In whatever it is that you choose to do."
Rajiv Bajaj added that while companies needed to get the necessary job done, work hours were not the most defining factor holding back businesses.
Receiving the Outstanding Company of the Year award at CNBC-TV18 India Business Leader Awards 2024, Bajaj quoted December VAHAN registration data and said Chetak is now the largest selling electric scooter in the country.
The move follows Bajaj Auto’s decision to create its captive financing unit – Bajaj Auto Credit Limited, which started its operations in March 2024
The dual-fuel bike, which has a supplementary tank for petrol if caught between CNG filling stations, has caught the fancy of the eternally mileage-focused Indian rider
Bajaj played down the stock price reaction after the results, saying the selloff was due to a 'some what temporary understanding' of how the festive sales were being captured.
Industry observers reckon that the downtick in numbers were largely driven by the preponement of purchases by prospective buyers in July as many of them were expecting the phaseout of Electric Mobility Promotion Scheme 2024
Industry analysts tracking the auto sector said that while it is technically feasible to build a 100cc CNG dual-fuel bike, there might be some teething troubles
Rajiv Bajaj said that by end of the upcoming festive season, Bajaj Auto could see its clean energy vehicles portfolio cross the one lakh mark in monthly sales.
Our expectation is that the two-wheeler market should grow around 6-8 per cent this year,” Bajaj Auto Executive Director Rakesh Sharma told reporters
Bajaj Auto Q1 FY25 results exceeded analysts’ expectations, aided by better product mix, higher selling prices, and robust sales.
According to Bajaj, there is no party happening in the EV segment as of now. Bajaj said the company has played its part by keeping the prices of the new motorcycle below Rs 1 lakh (at the lower end of the range) and was of the opinion that government should also now do its bit with lower GST.
Bajaj Freedom has dual-fuel capability with an auxiliary petrol tank of 2 litres, giving a combined range of 330 kms and comes in five colours
Equipped with a 2.8 kWh battery pack, Chetak 2901 has an ARAI-certified range of 123 km per charge and a top speed of 63 km per hour
In most developing countries, including Asean and Latin American nations such as Brazil, the middle- to lower-end motorcycles fall in the tax bracket of 8 to 14 percent, Bajaj said
The biggest Pulsar will be pitted against the likes of the Triumph Speed 400, KTM 390 Duke and the upcoming Royal Enfield Guerrilla 450
It said that the NS400 Pulsar, which will come in its biggest engine avatar yet at 373cc, will ensure that the company sets a "relentless pace and is always top of mind of this customer."
Triumph's volumes stepped up further in Q4 FY24 with nearly 18,800 units delivered in the quarter, with approximately 70 percent of this going to seed products in overseas markets, Bajaj Auto said.
Highlighting the resilience of the two-wheeler industry, Bajaj expressed optimism about the industry's performance, noting that it is "doing rather well."
The trading session saw substantial activity with a volume of 4,221 and a total trade value of 253.68 lakh
Discussing Triumph further, the CEO mentioned that in addition to increasing capacity, the company must also focus on broadening its distribution network.
Speaking of Bajaj Triumph, he also said that the company intends to sell 10,000 units per month and anticipates doubling production and sales of Triumph in the third quarter of the current fiscal at 18,000 units.