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

Next Story
Infrastructure Urban

3i Infotech Reports Rs 7.25 Bn Revenue for FY25

3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..

Next Story
Infrastructure Urban

Emerald Finance Joins Baya PTE to Boost SME Bill Discounting

Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..

Next Story
Infrastructure Urban

BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25

BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, “We are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?