Bajaj Auto is developing an electric motorcycle and plans to launch it in fiscal 2028, with international markets set to be the first focus before the product is introduced in India, the company's Chief Financial Officer Dinesh Thapar said during a media interaction.
Thapar said the company is prioritising overseas markets for the upcoming electric motorcycle, reflecting Bajaj Auto's strategy to strengthen its global electric vehicle (EV) presence before expanding the offering domestically.
Highlighting the improving economics of its EV business, Thapar said Bajaj Auto's electric business has achieved double-digit Ebitda margins. He added that the company's electric scooter business is now Ebitda-positive, underscoring the profitability of its EV operations as scale improves.
Landmark Quarter For Chetak
Bajaj Auto reported a record quarter for its Chetak electric scooter, with the brand registering its highest-ever sales and volumes. The company delivered more than 1.5 lakh electric vehicles during the quarter across electric two-wheelers (E2Ws) and electric three-wheelers (E3Ws), representing double-digit volume growth.
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In its electric two-wheeler business, Bajaj Auto is also ramping up production of its flagship Chetak scooter. The company plans to increase Chetak's monthly production capacity from 50,000 units to 60,000 units over the next two months.
Thapar said demand for the Chetak has exceeded supply, prompting the company to accelerate capacity expansion to meet customer demand.
Thapar said Bajaj Auto ended the quarter as the market leader in India's electric three-wheeler segment and expects to further strengthen its market share during the third and fourth quarters. The company is also planning a 50% expansion in electric three-wheeler production capacity to cater to rising demand.
To support rising demand across its product portfolio, Bajaj Auto plans to increase its manufacturing capacity by 20% this financial year.
The company will raise capacity by 10% over the next three to four months, followed by another 10% expansion by the end of the current fiscal.
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