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Bajaj Auto plans to have Separate Brand to Cater EVs in India
Bajaj Auto would venture into the manufacturing of electric as well as hybrid vehicles in the two, three as well as four wheeler category.
The imminent arrival of the Ola electric scooter, with an aggressive price range, might very well, speed up new launches as the brand vows to make a strong pitch with heavy investment. There is no secret, that electric 2 wheeler is now being targeted to be the next big thing by the manufacturers; hence we find lot of activities are taking place, behind the curtain.
As per the recent report, Bajaj Auto already has revived the Chetak nameplate for its Zero-emission scooter and it is presently expanding its footprint across major cities and also looking to establish a standalone subsidiary for EVs. There has been similar speculation, which came up, even before the debut of Chetak through the urbanite brand though.
However, this time around, Bajaj informed BSE (Bombay Stock Exchange) that, its board of directors had approved such a bit at a meeting held. The statement stated, the wholly-owned subsidiary would leverage that, growth opportunities in the evolving mobility space and it would help the company venture into the manufacturing of electric as well as hybrid vehicles in the two, three as well as four wheeler category.
It is definitely worth to note, that the Chakan-based has made an announcement that the introduction of electrified three wheelers and quadri- cycles this fiscal as well. The name of the new vertical is still not known, and it is subjected to the approval from the Ministry of Corporate Affairs and it would have a proposed capital of about Rs. 100 crore. The subsidiary might pertain to electric as well as hybrid vehicles too across different segments.
. Bajaj Auto 's main competitors Hero MotorCorp as well as TVs Motor Company has revealed have revealed about huge investments to flow towards electric mobility and recently both central and state government have made an announcement that host of benefits would definitely boost EV Sales. That's not all, the steep increase in the petrol price would not do any favour either as the buyers are constantly looking at different alternatives.
The TVS Motor Company, has plans to invest nearing to 1,000 crore towards the electrification and it has also announced to launched above 6 EVS in the coming two years. The Company has about 500 to 600 engineers working on varied concepts and upcoming electric two and three wheelers are expected to carry batteries in the range of 5-25 kW.
