Bajaj Auto is looking for a leading position in e-two-wheel exports from India in the same way it has done with gasoline motorcycles. India’s largest motorcycle exporter sells its models in more than 70 countries.
Over the next two years, Cheta Technology, its wholly-owned subsidiary, will build a two-wheel-drive wallet. Rakesh Sharma, CEO of Bajaj Auto, has targeted Bajaj Auto for foreign markets. He is now busy drawing a growth trajectory similar to Chetak Technology.
“When we’re deciding on a new product, it’s like we can sell all the markets. It’s always a global play. It will be the same with electric vehicles (electric vehicles), ”said Sharma. There are consultations on the model from Kenya, Mexico, Argentina, Asean nations, Nepal and Bangladesh, among others.
Chetak wants to create a portfolio of two-wheeled models in response to a variety of needs and a vibrant customer profile, Sharma said in an interaction.
The Chetak plant will also be a major export hub for KTM and Husqvarna scooters and motorcycles for the next two years. On Friday, the company inaugurated its newly built EV manufacturing plant in Akurdin, Pune, on the anniversary of the birth of Rahul Bajaj.
This inauguration is a return home in many ways, as the iconic Cheta scooter Akurdi was born in the 1970s. Mobility for generations in India was redefined.
“We’ve always joked that Cheta was his favorite son; I would like to assume that he is very happy with the way he is celebrating his birthday, ”said Rajiv Bajaj, Managing Director of Bajaj Auto, after opening his only EV factory.
With an investment of Rs 300 crore, the plant will benefit from the government’s production incentive scheme (PLI).
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Bajaj Auto will invest more than $ 2 billion over the next 2-3 years, Sharma said. The plant has the capacity to operate 800 electric scooters daily (250,000 a year). It can be further expanded to double the output of the two electric wheels.
Cheta – in her new electric avatar – hit the road in October 2019. But supply chain problems have slowed its run and the company has managed to sell more than 14,000 units so far with more than 16,000 reserves.
Even if meeting domestic demand remains a top priority for the company, it would not wait for the scenario when the export delay is fully resolved, Sharma said.
He added that there is a shortage of semiconductors and that he does not see the situation completely resolved. To improve supply, Bajaj relied on a few large suppliers. But now it comes from multiple suppliers. This should help the company grow faster.
Sharma said Chetak Technology is looking at multiple collaborations, including a stake in a start-up or established company to advance its EV intentions. However, he is in no hurry and will only meet with companies that provide “enough value to the table”.