The impressive financial incentives put in place by both the central and state governments in India in support of electric vehicle manufacturing have seen demand increase significantly for EVs. India’s biggest manufacturer of three-wheeled vehicles, Bajaj Auto has announced that it will be unveiling its first electric three-wheeler autorickshaw in the first quarter of 2023. Bajaj aims to develop a lineup that covers the cargo, small passenger, and large passenger segment, but will begin with a small passenger electric three-wheeler.
Bajaj Auto has been testing its battery-powered three-wheelers for a few years and was close to unveiling its first electric vehicle before the coronavirus pandemic slowed its outlook and expectations. According to Rakesh Sharma, Bajaj Auto’s Executive Director, the company is getting close to the final stages of the development of the electric three-wheeler vehicle. It hopes to seek and obtain approvals from the relevant regulatory bodies by the end of 2022, paving way for the launch of the EV by the first quarter of 2023.
Recent industry data indicate that Bajaj Auto has a 62% market share of the traditional three-wheeler market in India. Bajaj also boasts of a substantial dominance across several countries where three-wheelers are the major part of the transportation and logistics architecture. Apart from the passenger three-wheeler slated for early 2023, Bajaj plans to progressively cover the cargo, small passenger, and large passenger segments. It hopes to draw from its strong customer base to leverage the electric three-wheeler EV when it is released. Bajaj says that its extensive dealer networks will provide the needed backbone that could drive the demand for its new three-wheeler. In addition, the new three-wheeler EV will have telematics, real-time data for efficient fleet management and optimization.
Bajaj hopes to install fixed battery technology in the cars, as it feels swappable technology may not be viable at this time, with affordable cost considerations also in the mix. Subsequent models may come with swappable battery technology when there is a significant degree of saturation in the market.
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