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Representative Image Bajaj Auto unveiled its plans for urban electric mobility. The company is developing electric vehicles and aims to reach the roads with its electric fleet of two, three and four wheels by 2020, before the BS-VI standards are applied, said Bajaj Auto, MD Rajiv Bajaj. They develop electric motorcycles, scooters and three-wheelers as well as the electric version of the four-wheeler, Qute. He said the company could work on an electric motorcycle or an electric scooter, or both. He was confident of putting an outstanding global brand of two-wheelers on the road before 2020.
Electric vehicles were a risky business because no one had found a viable way to do it, but did not get into the Electric vehicles were more risky, Bajaj said. Beyond electric mobility, volume growth in the luxury shuttles segment, expanding its premium bike range with expanded brand offerings from KTM and Triumph, as well as Pulsar and Dominar, are the Bajaj Auto projects for fiscal year 19. 19659003] Efforts would be intensified to expand into the commuter segment, which would impact the company's margin for the next three to five years, Bajaj said at the AGM held Friday in Pune. In the commuter segment, the company grew by 38% in the first quarter of 19 and intensified its efforts to increase its growth to 50% in this segment in the second half. Bajaj said the Qute has finally received all approvals and that it will begin to be shipped to dealers. As he had done with BS-IV, the company would adhere to BS-VI 2020 emission standards in advance. "We will be ready one year in advance in three wheels and we will put it on the road in 2019. "
In the premium segment, Bajaj said between his company and KTM, that they are aiming to sell half a million high-end motorcycles in the near future, something has not yet been achieved by anyone at these prices. Bajaj is working with Triumph on the bike and will sign a final deal with them in the coming weeks, said Bajaj. They hoped to work on a similar relationship with Triumph as with KTM and to be equal partners in design and manufacturing, and to explore global markets where Triumph is not present, such as the Indian subcontinent, the United States. ASEAN and the Latin American countries.
To handle all the growing complexities of the business, Bajaj Auto reorganizes the management team with Rakesh Sharma being appointed the new commercial director at the beginning of the organization.
Q1 PAT 20.70%
Bajaj Auto reported a 20.70% year-on-year growth of PAT at 1,115.23 crores for a business turnover of Rs 7,823.70 crore, which increased by 33% over Q1FY19. The turnover and the operating result are up 36% to 7,419.20 Rs. The EBE margin is 18.4%. The total sales volume of the company increased by 38% during the quarter to 12.26 lakh units, with motorcycle sales at 10.29 lakh units and CV sales at 1.96 lakh units. The company exported 5.38 million rupees worth Rs 3.151 crore with a 25% growth in motorcycle exports and 69% of three-wheeler exports in the first quarter of 1919.
Rajiv Bajaj, MD, Bajaj Auto in the industry. There was intense pressure from commodity prices, he said. Bajaj Auto's market share in the domestic motorcycle market was 16.3% in the quarter, compared to 14% in the first quarter of 1980.
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