There has been a shift in the wider automotive sector, with the sales in electric vehicles gaining over the years. However, the same cannot be said for the two-wheeler space. Penetration in the two-wheeler segment is only 4-5%, according to Rajiv Bajaj, chief executive officer of Baja Auto Ltd.
"There's no party happening as of now in the electric two-wheeler space," he said at the launch of the company's CNG motorcycle 'Freedom 125' on Friday.
In the two-wheeler space, penetration of EV is low despite major players offering discount of almost Rs 10,000 every other month, he said. There have been multiple subsidies and tax breaks that are being offered in order to increase the sales of electric two-wheeler. Despite these initiatives, the adoption is yet to reach an inflection point, according to him.
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Bajaj Auto launched the world's first CNG motorcycle on Friday. The 'Freedom 125' is powered by a 125-CC engine, with the ability to toggle between petrol and Compressed Natural Gas powertrains. The motorcycle will be available in three variants, with prices starting at Rs 95,000 (ex-showroom).
The two-wheeler sector has been weighing the idea of a CNG motorcycle or scooter for some time now. In 2016, the government tested CNG variants of Honda Activa scooters, but that vehicle never came to be due to lack of real-world power.
With the launch of the CNG bike, Bajaj Auto wants to return the favor to Hero Honda from 1993, when Hero Honda overtook the company as the largest Indian two-wheeler maker, the CEO said.
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