Bajaj Auto, the Pune, India-based automotive manufacturer, announced a new manufacturing facility in Akurdi. This facility will largely be home to Bajaj Auto's Chetak Technology subsidiary, which focuses on creating electric vehicles and EV-related solutions.
In creating this new dedicated factory, Bajaj Auto will increase its number of e-motorbikes and e-bikes produced significantly. It is important to note that, while the electric push will not fully replace Bajaj's line of internal combustion engine vehicles just yet, the company is leaning heavily into EVs in the near future.
Bajaj Auto stated that it does not yet believe there is a large enough demand for electric vehicles for the company to switch its entire, largely successful, production line over to EV counterparts. Instead of this, Bajaj Auto will use Chetak Technology to create electric versions of its popular models, such as the Pulsar, in order to gain synergy between the two power types.
Hybrid EV Initiatives
Bajaj Auto Announced a New Plan to Synergize EV and IC Models
Trend Themes
1. Hybridization of IC Engine Vehicles - Opportunity for automotive companies to create hybrid versions of their popular IC engine models to gradually shift towards electric mobility.
2. Ev-related Solutions - Development of technology-specific subsidiaries to create EV-related solutions such as battery technology, charging infrastructure, and other components required for electric vehicles.
3. Incremental Shift Towards Electric Mobility - Gradual shift towards electric mobility by creating a synergy between IC engine and electric vehicles to cater to existing customer demand while building the EV market for future growth.
Industry Implications
1. Automotive Manufacturing - Opportunity for automotive manufacturers to create EV-related technology solutions and gradually shift towards electric mobility by creating hybrid versions of popular IC engine models.
2. Battery Manufacturing - Opportunity for battery manufacturers to supply batteries for electric mobility and collaborate with automakers to create custom battery solutions.
3. Charging Infrastructure - Opportunity for companies to invest in developing charging infrastructure for electric vehicles and collaborate with automotive manufacturers to create a seamless charging experience for customers.