Bajaj Auto to launch electric motorcycles in FY 2028

Bajaj Auto has confirmed plans to launch electric motorcycles in fiscal 2028, marking a major step in its electric vehicle strategy. The company is also preparing to raise production of its Chetak electric scooter after demand outpaced supply in the latest quarter. The update comes at a time when competition in India’s electric two-wheeler market is intensifying.

Electric plans take shape

The new electric motorcycle programme signals that Bajaj Auto is looking beyond scooters and three-wheelers to widen its EV portfolio. The company said electric vehicles already made up about 30 per cent of its domestic revenue in the quarter, underlining the growing contribution of this business to its India operations.

Bajaj Auto’s push will also be shaped by the pace at which it can scale production. In a post-earnings call, chief financial officer Dinesh Thapar said demand for electric two-wheelers had exceeded supply during the quarter. He said the company is now working to add capacity for the Chetak in the near term.

"We've had a situation in Chetak where demand has outpaced supply. And what we are essentially doing now is to try and augment supply in the next couple of months for Chetak as well," he said.

Chetak output to rise

Bajaj Auto aims to increase monthly production of the Chetak electric scooter to 60,000 units from 50,000 units. The move is meant to improve availability as demand remains strong in the electric scooter segment.

The company’s EV business is becoming more important as rivals continue to strengthen their own electric offerings. Established two-wheeler makers such as TVS Motor and Hero MotoCorp, along with newer entrant Ather Energy, are competing more aggressively in the space. That makes product expansion and factory output key priorities for Bajaj Auto.

Strong quarter supports the push

The EV update followed a strong financial performance for the Pune-based automaker. Bajaj Auto reported a 42.3 per cent rise in first-quarter profit to 29.83 billion rupees, helped by healthy domestic and overseas demand. Revenue climbed 36.3 per cent to 164.62 billion rupees.

Exports were a major driver in the quarter. Overseas volumes rose 52 per cent to 636,005 units, supported by growth in Latin America and a recovery in Africa. Domestic two-wheeler sales grew 11 per cent, though that was lower than the industry’s 20.3 per cent growth, according to SIAM data.

The broader auto market continued to improve after the September tax cut, even as manufacturers faced higher commodity, energy and freight costs linked to disruptions caused by the U.S.-Iran conflict that began in February. TVS Motor also reported a rise in quarterly profit, aided by demand for higher-margin motorcycles.

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