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.
Awaiting ARAI certification, Pune-based Bajaj Auto says it's finally ready to roll out its much-delayed quadricycle RE60, with the Supreme Court lifting stay by various high courts over creation of a new vehicle category by the government.
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.
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.
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 panel set up for quadricycles norms has submitted it report to the government and has suggested for phased alignment with European Union norms.
The emergence of a new class of 4-wheelers has split the auto industry wide open. Even as countries like Singapore have expressed interest in Bajaj Auto‘s 4-wheeler the RE60, auto makers like Tata Motors say the move towards quadricycles is regressive.
Even as Bajaj Auto waits for a government-appointed committee to come up with the final rules on quadricycles, the 2w major continues to face opposition for its 4w re60 in India from competitors who have raised safety concerns amongst other dissenting voices
With domestic regulations yet to be firmed up for the launch of the RE60 for the Indian markets, Bajaj Auto is looking to de-risk its business model by gearing up for the export markets instead. The company is looking at nearly half a dozen countries for its exports.
Bajaj Auto is set to roll out the first RE60 in June or July 2013. However, Rajiv Bajaj tells CNBC-TV18 in an exclusive interview that the company's four wheeler will land on foreign shores first.
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.
Scooter sales have been growing at a brisk clip of late, beating motorcycle sales, prompting more companies to look at the segment closely. But Bajaj Auto, which stopped making scooters couple of years ago, maintains it will stick to selling motorcycles.
India's second largest two-wheeler maker Bajaj Auto says it will be difficult to achieve its guidance of 4.5-4.6 million units in 2011-12, due to a slowdown in sales of motorcycles.
Bajaj Auto on Tuesday led to rest all the speculation surrounding its ultra-low-cost-car programme by unveiling the four-wheeler RE60, which it feels will revolutionize mass transportation and change the way people commute within the city.