Plan to develop high-end 'Tesla-like' electric two-wheelers: Bajaj Auto MD

Bajaj Auto, India's third largest two-wheeler maker, on December 7 said it's betting big on electric vehicles for future and the company is planning to come up with high-end Tesla-like electric two-wheelers next year.

In an interview to CNBC-TV18, Rajiv Bajaj, managing director, said Bajaj Auto is looking to create a luxury category of electric two-wheelers.

On the business front, Bajaj said margins are under pressure for everyone in the industry immaterial whether you are making trucks, cars, motorcycles etc., "Bajaj Auto lost out on rupee depreciation (when rupee was above 70 to the dollar) gains as the company hedged with upper limit of just under 70 to the dollar for FY18, which impacted margins since exports are 40 percent of production."

Further, Bajaj said growth in December is expected to be driven by 60 percent in Pulsar, 50-60 percent growth in Platina and about 25-30 percent growth in CT 100.

Pune-based two-wheel major said achieving sales of 4 lakh units or more over the next few months would be a good number, especially if the industry is soft, "For six months of the fiscal, the run rate was 4 lakh units between domestic and exports both for motorcycles and three-wheelers. However, in the festive months season, the company did sales of 5 lakh units, but in November again they were back to around 4 lakh units."

Source: CNBC-TV18