Bajaj Auto Aims For 80% Market Share in Electric Three-Wheelers: Raji Bajaj

Bajaj Auto, a dominant player in the CNG three-wheeler market with an 80% market share, is now setting its sights on a similar dominance in the electric three-wheeler segment. Having already captured 36% of this market, the company has outlined ambitious plans to increase its share to 80%.

Rajiv Bajaj, Managing Director of Bajaj Auto, highlighted the company’s success in both the electric auto-rickshaw and electric cargo vehicle sectors, where it has emerged as a market leader. Leveraging its extensive experience in manufacturing and exporting CNG three-wheelers, Bajaj Auto entered the electric three-wheeler market in May of the previous year.

The company’s strong performance in the three-wheeler market is evident in its sales figures. In July 2024, Bajaj Auto sold over 56,000 three-wheelers, a 11% increase compared to the same period last year. Exports also saw growth, with 14,478 units shipped, representing a 6% rise. The first quarter of FY25 was equally promising, with total three-wheeler sales reaching over 1.51 lakh units, a 9% increase.

To solidify its position and achieve its ambitious market share target, Bajaj Auto is focusing on expanding its production capacity. As Rajiv Bajaj stated, “We will dispatch over 40,000 CNG three-wheelers. We are very pleased with our success of the electric three-wheeler, of which we will try to make closer to 6,000 or a little more next month.”

The company’s commitment to clean energy is further demonstrated by its plans to launch an e-rickshaw in FY26. This move will strengthen its presence in the three-wheeler segment and contribute to its overall goal of achieving 100,000 clean energy vehicle sales, including CNG and electric three-wheelers and two-wheelers.

Bajaj Auto is also exploring other alternative fuel options. The company plans to showcase ethanol-powered two-wheelers and three-wheelers in Delhi in September, followed by a launch within FY25. Additionally, its R&D team is actively working on hydrogen-powered vehicles, although a launch timeline has not been disclosed.

To further enhance its position in the urban mobility segment, Bajaj Auto is considering partnerships or mergers in the two-wheeler and three-wheeler sectors. Rajiv Bajaj hinted at a significant collaboration in the future, building on the company’s existing partnerships with KTM, Triumph, and Husqvarna.

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