+
Bajaj to establish wholly-owned subsidiary for EV and hybrid vehicles
POWER & RENEWABLE ENERGY

Bajaj to establish wholly-owned subsidiary for EV and hybrid vehicles

Bajaj Auto to establish a wholly-owned subsidiary to capitalise on growth opportunities in the electric and hybrid two-wheeler, three-wheeler, and light four-wheeler segments.

The proposed authorised capital for the subsidiary company is Rs 100 crore, and the paid-up capital is Rs 5 crore. The name of the new subsidiary has yet to be finalised and is subject to approval by the Ministry of Corporate Affairs.

Rakesh Sharma, executive director of Bajaj Auto, explained at the annual general meeting (AMG) that the company is evaluating the full spectrum of possibilities in micro-mobility to performance motorcycles on the electric platform.

The board of directors has approved the creation of a wholly-owned subsidiary dedicated solely to the development of the electric vehicle (EV) business.

Bajaj entered the EV space with the Chetak, a fully electric scooter that debuted in January 2020 in Pune and Bengaluru. The Pune-based firm has since expanded its sales to Nagpur.

Sharma added that sales have begun in Pune and Bengaluru, but demand is outstripping supply.

The Chetak is expected to have a monthly strike rate of 1,000 units. Within the next quarter, the company plans to expand to four more cities, with a total of 25 by the end of the year.

Bajaj Auto also mentioned that it has built a 60,000-unit-per-year manufacturing capacity for the Chetak.

While the Chetak is the most expensive electric scooter in India, its capacity pales in comparison to its competitors.

Ola Electric is constructing a factory in Tamil Nadu with a full production capacity of 10 million units. Ather Energy can now produce over 100,000 units per year, while Ampere Vehicles is preparing to produce one million.

Image Source


Also read: Construction of Ola’s electric scooter factory in Tamil Nadu in full swing

Bajaj Auto to establish a wholly-owned subsidiary to capitalise on growth opportunities in the electric and hybrid two-wheeler, three-wheeler, and light four-wheeler segments. The proposed authorised capital for the subsidiary company is Rs 100 crore, and the paid-up capital is Rs 5 crore. The name of the new subsidiary has yet to be finalised and is subject to approval by the Ministry of Corporate Affairs. Rakesh Sharma, executive director of Bajaj Auto, explained at the annual general meeting (AMG) that the company is evaluating the full spectrum of possibilities in micro-mobility to performance motorcycles on the electric platform. The board of directors has approved the creation of a wholly-owned subsidiary dedicated solely to the development of the electric vehicle (EV) business. Bajaj entered the EV space with the Chetak, a fully electric scooter that debuted in January 2020 in Pune and Bengaluru. The Pune-based firm has since expanded its sales to Nagpur. Sharma added that sales have begun in Pune and Bengaluru, but demand is outstripping supply. The Chetak is expected to have a monthly strike rate of 1,000 units. Within the next quarter, the company plans to expand to four more cities, with a total of 25 by the end of the year. Bajaj Auto also mentioned that it has built a 60,000-unit-per-year manufacturing capacity for the Chetak. While the Chetak is the most expensive electric scooter in India, its capacity pales in comparison to its competitors. Ola Electric is constructing a factory in Tamil Nadu with a full production capacity of 10 million units. Ather Energy can now produce over 100,000 units per year, while Ampere Vehicles is preparing to produce one million. Image Source Also read: Construction of Ola’s electric scooter factory in Tamil Nadu in full swing

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code