In India’s fast-changing vehicle market, Bajaj Auto is quickly becoming a major player in electric vehicles. The Financial Express reports that Bajaj is gaining significant market share with its electric three-wheelers called GoGo and electric scooters called Chetak. This represents a big change for the company as it shifts away from traditional petrol vehicles toward cleaner electric options.
Understanding Bajaj’s Three-Wheeler Success
Bajaj now controls 39% of the passenger segment in electric three-wheelers, as confirmed by Samardeep Subandh, President of Bajaj’s Intracity Business Unit. This remarkable achievement means nearly four out of every ten electric passenger three-wheelers on Indian roads are made by Bajaj. In the high-speed L5 category specifically, they hold 36% market share.
The GoGo three-wheeler has become particularly successful because it offers much better value than competitors. It can travel up to 251 kilometers on a single charge and costs Rs 3.26 lakh. Compare this to Mahindra’s Treo Plus, which costs more at Rs 3.44 lakh but travels only 150 kilometers per charge. For drivers who earn money transporting passengers, this longer range means more earnings with fewer charging stops.
How Bajaj is Transforming the Two-Wheeler Market
Electric vehicles now generate 22% of Bajaj’s domestic sales, showing how quickly the company is changing. While the three-wheeler market has embraced electric power faster (57% of all three-wheelers sold are now electric), the two-wheeler market is also growing rapidly. In 2024, electric two-wheeler sales grew by 33%, reaching 1.14 million units across India.
The Chetak electric scooter comes in several versions with different capabilities. The most advanced model (3501) can travel 153 kilometers on one charge. This matters greatly to riders who worry about running out of power. Bajaj has also made charging faster – the newest models can charge from empty to 80% in just three hours instead of four hours with older models.
Battery Technology Made Simple
- Bigger, Better Batteries: The newest Chetak scooters use more energy-dense battery cells. This means they can store more electricity in the same space, giving riders more power and longer travel distances without making the scooter heavier or larger.
- Faster Charging Solutions: The GoGo three-wheeler P7012 variant uses a large 12.1 kWh battery (think of this as a bigger fuel tank) that powers it for 251 kilometers. It comes with an onboard charger that can fill the battery to 80% in just 3 hours using a standard home power socket.
- Long-Term Reliability: Bajaj offers a five-year warranty on the GoGo’s battery, giving buyers confidence that their investment is protected. This addresses a major concern many people have about switching to electric vehicles.
Business Impact and Market Significance
Analysts from Nuvama predict that electric vehicles will continue growing at 30% annually. This rapid growth explains why Bajaj is investing heavily in this area. The company has reached an important financial milestone called “EBITDA breakeven” in its electric vehicle segments, meaning these new electric products are now covering their costs.
The shift toward electric is happening because Bajaj needs to make up for losses in its traditional petrol-powered two-wheeler business. By developing new electric vehicle platforms with better batteries and charging capabilities, Bajaj is positioning itself for future growth as India moves toward cleaner transportation.
What This Means for India’s Transportation Future
The fact that 57% of three-wheelers sold are now electric represents a major transformation in urban transportation. Three-wheelers are essential for last-mile connectivity in Indian cities, and their switch to electric power means quieter streets and cleaner air for millions of citizens.
As Bajaj prepares to announce its financial performance on May 29, many will be watching closely to see how this electric strategy is affecting their bottom line. For consumers, the competition between Bajaj, Ola Electric, TVS Motor, and Mahindra means better products at lower prices. And for India’s environment and energy security, every petrol vehicle replaced by an electric one means less pollution and reduced dependence on imported oil.
