Bajaj Developing Own Tech to Rival Electric Start-ups, Hero & TVS

Rajiv Bajaj revealed Bajaj’s electric vehicle plan and what lies ahead. He talked about the company’s strategy to fight out new and old rivals..

At a conversation to a news portal, Rajiv Bajaj, MD of Bajaj Auto revealed some interesting bits about their electric journey. He officially announced the launch of second Chetak within this fiscal.

Speaking more on this, the MD shared that the company is not targeting the EV segment as a mass market at present. This could mean Bajaj is playing the waiting game to see how the EV market of our country evolves in the coming months and years when the impact and issues of the pandemic fade away.

He further added that the company is currently focusing on developing their own technology in order to rival the extremely aggressive electric start-ups as well as the legacy players like Hero and TVS to gain an upper hand in the country’s EV segment.

bajajs electric vehicle plan
Bajaj has announced its next Chetak scooter…

When inquired about the government’s newly introduced Performance-linked Incentive (PLI) scheme aimed to provide a boost to EV segment, Mr. Bajaj said that the company is not relying on this incentive to establish themselves and expand in the EV market. He added that the PLI scheme is introduced in order to assist and reduce the anxiety of the current and new market players of the EV segment. 

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This interaction has been an interesting insight into how the big players of our country are seeing and understanding the rapidly evolving EV segment of our country.

While there are so many new players entering the market with an onslaught of new launches, the bigger names are still not hurrying on this trend. May be, they want to be sure before taking any drastic measures.

Source – Moneycontrol