Bajaj Auto will launch its first electric three wheeler in the second half of fiscal year 2022. The company is also the market leader in the passenger three-wheeler segment, also known as auto rickshaws. Bajaj had earlier planned to launch it in 2019. But it was postponed. The Electric Chetak was then launched in January 2020, becoming the company's first battery powered vehicle.
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"We are two years late," said Kovid . The Covid-19 epidemic could be the biggest reason for the delay in launching. During this time there was a shortage of battery cells and people were avoiding traveling in auto rickshaws for fear of spreading the infection. However, the demand for three-wheelers has been increasing since the opening of schools, offices, malls and shops.
The company will also bring an electric version of the Bajaj Q. The
company is also working on an electric version of the Quadricycle Cute. Cute is already present in the market. Rakesh Sharma, Executive Director, Bajaj Auto, said, “We are working extensively to make three-wheelers and cute on the electric platform. In addition, the company will bring the range of electric three-wheelers in the second half of the next financial year. The prototype is being tested, Sharma said.
Bajaj Auto's 57% stake in the
three-wheeler segment Bajaj Auto had a 57% stake in the three-wheeler segment by FY20. Organized electric passenger three-wheeler space is dominated by Mahindra & Mahindra. Piaggio also entered the segment about two years ago. Lohia Auto, Kinetic Green and Atul Auto are some of the other players in the organized sector.
TVS Motor Company is another strong competitor in the petrol three-wheeler space, which will enter the electric three-wheeler segment in the year 2021-22. The exact market size of electric three-wheelers in India is not known due to the large presence of unorganized players importing electric three-wheelers from China.
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