Rajiv Bajaj has announced plans to launch an affordable electric 3W which will rival unbranded Rickshaws made from illegal import kits
Bajaj Auto, a global leader in the manufacturing of 3-wheelers (3Ws), stands as a cornerstone in India’s automotive landscape, excelling in both the two-wheeler (2W) segment within the passenger vehicle (PV) space and the 3W segment within the commercial vehicle (CV) arena.
Bajaj’s Affordable Electric Rickshaw Project
Renowned for its pioneering strides in electric 3Ws, the company is now embarking on a mission to create a more accessible electric 3W platform, with the aim of steering Indian consumers away from unbranded import kits and towards safer, more reliable options.
Speaking with CNBC TV18, Rajiv Bajaj, the MD of Bajaj Auto, confirmed the company’s ongoing efforts to develop an affordable electric 3W vehicle. This vehicle, envisioned as a versatile platform, holds the promise of spawning multiple body styles in the future, catering to a diverse range of consumer needs.
As a key player in the global 3W market, Bajaj feels a sense of responsibility to drive the segment forward in the right direction. Mr Bajaj emphasizes the substantial market potential of the electric rickshaw sector, estimated at approximately 50,000 to 60,000 units. However, he expresses concerns regarding the dominance of cheap, unbranded products comprising imported kits, which often fail to meet safety standards, posing significant risks on the road.
Recognizing this market niche as a lucrative opportunity, Bajaj is committed to developing an affordable offering that matches the pricing of unbranded electric rickshaws while surpassing them in terms of quality and safety. The primary target demographic for this initiative, according to Bajaj, is North India, encompassing regions such as Delhi, Uttar Pradesh, Bihar, and others.
While Bajaj may not currently have a foothold in this specific segment, Rajiv Bajaj hints at an impending unveiling. When questioned about a potential launch timeline, he suggests that the introduction of this budget-friendly electric 3W from Bajaj is imminent, promising a transformative impact on the Indian electric vehicle market.
Bajaj’s Venture into Affordable Electric Transportation
Notably, the company has made significant strides in offering a robust portfolio of Compressed Natural Gas (CNG) 3Ws, which have gained popularity both in the Indian market and in various export destinations.
Bajaj has also made notable inroads into the realm of electric 3W mobility solutions, gaining considerable momentum in the process. Presently, the company offers the EV RE electric 3W rickshaw (also known as a tuk-tuk) and the Maxima XL Cargo, both powered by the E-TEC 9.0 powertrain, featuring an 8.9 kWh battery. For those seeking greater power and capacity, Bajaj also offers the Maxima XL Cargo with the E-TEC 12.0 powertrain, boasting an 11.8 kWh battery.
In terms of pricing, the Bajaj EV RE E-TEC 9.0 starts from Rs. 3.65 lakh, while the Maxima XL Cargo E-TEC 9.0 begins at Rs. 4.04 lakh, and the Maxima XL Cargo E-TEC 12.0 starts from Rs. 4.5 lakh (all prices ex-showroom). These competitive prices underscore the pressing need for an affordable electric 3W rickshaw in the market.
