Bajaj Auto, the king of India’s petrol-powered three-wheeler market, is making a power play in the electric vehicle (EV) space. Let’s explore their journey and how their electric three-wheeler offerings are redefining urban mobility.
India’s electric three-wheeler market is booming, expected to smash records with over 600,000 units sold in the current fiscal year (FY2024). Leading the charge is Bajaj Auto, a familiar name in the traditional three-wheeler segment.
Bajaj: From ICE Leader to EV Contender
Based in Pune, Bajaj Auto has dominated the internal combustion engine (ICE) three-wheeler market for years. They’ve clocked a staggering 400,546 units sold between April 2023 and March 17, 2024 (Vahan data), reflecting a healthy 51% year-on-year growth. But Bajaj isn’t resting on its laurels. They’ve set their sights on becoming a major player in the electric three-wheeler segment as well.
Electric Debut and Early Success
Bajaj Auto entered the electric three-wheeler market in June 2023 with two key offerings: the Bajaj RE E-Tec 9.0 passenger carrier and the Maxima XL Cargo E-Tec 12.0. In just nine and a half months, they’ve sold a commendable 8,601 units (see table below for detailed sales data).
The past five months have been particularly impressive, with sales totalling 6,521 units – that’s a whopping 75% of their total e-three-wheeler sales so far! This surge reflects the growing demand for Bajaj’s electric offerings, the RE E-Tec 9.0 and Maxima XL Cargo E-Tec 12.0.
Bajaj’s Rapid Climb Up the EV Ladder
Bajaj Auto’s performance has been nothing short of stellar. While they ranked No. 28 in calendar year 2023 (June-December) with 4,573 units sold, their strong market performance in 2024 has seen them climb up the ladder significantly. In both January (1,579 units) and February (1,381 units) of 2024, Bajaj secured the No. 6 position – a remarkable feat considering they’re competing against a massive 485 players in the market.
Looking Ahead: Continued Growth Expected
With just two weeks left in FY2024, Bajaj Auto’s cumulative electric three-wheeler sales stand at a healthy 8,601 units. This translates to a No. 21 position overall, keeping in mind their initial months of slower sales. However, the trend is clearly upward. They registered their first four-figure sales in November 2023 (1,231 units), and the momentum has continued ever since.
With plans for ramping up production and expanding their EV sales network, Bajaj Auto is poised to climb even higher in the electric three-wheeler market share.
Exploring Bajaj’s Electric Three-Wheeler Portfolio
Let’s take a closer look at Bajaj’s two electric three-wheeler offerings:
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Bajaj RE E-Tec 9.0 (Passenger Carrier): This passenger-friendly e-three-wheeler boasts an 8.9 kWh battery, offering a range of up to 178 km on a single charge. It reaches a top speed of 45 kmph and comes equipped with a convenient two-speed automatic transmission. The powertrain delivers 4.5 kW of power and 36 Nm of torque, and a full charge takes approximately 4.5 hours. The Bajaj RE E-Tec 9.0 rides on 120/80-R12 radial tyres and is priced at Rs 306,550 (ex-showroom Agra) after availing FAME II subsidy benefits.
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Bajaj Maxima XL Cargo E-Tec 12.0 (Cargo): Designed for efficient cargo transportation, the Maxima XL Cargo E-Tec 12.0 packs a punch with a larger 11.8 kWh lithium-ion (LFP) battery. This translates to a higher range of 183 km per charge. The top speed is 40 kmph, and a full charge takes about 5 hours and 40 minutes. An 80% charge can be achieved in four hours. The suspension system ensures a smooth ride with twin shock absorbers with a spring in the front and an independent trailing arm with a helical spring at the rear.
