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What is the story about?
Bajaj Auto is currently the second-largest electric vehicle (EV) player, with a 22% market share and a production capacity of 50,000 units per month. "We are looking over a period of time to double this capacity, we. We think that this segment is set to grow very fast," Joint Managing Director Rakesh Sharma told CNBC-TV18 on July 3.
About 30% of the Pune-based company's India revenue comes from electric vehicles. The company is dominant in the electric three-wheeler segment, which contributes up to 4% of its sales.
Hopes are high for the upcoming launch of the electric version of the iconic Chetak scooter in September. "We have not been in scooters, and 40% of two-wheelers in Delhi, for example, are scooters. This is all new business for us," Sharma added.
EV sales have ballooned in India this year as the war in West Asia made petrol prohibitively expensive for many. The demand is also backed by a slew of subsidies from both the Union government and states.
However, the Bajaj Auto (market cap of ₹2.75 lakh crore) has its own challenges. Earlier, on June 23,
CNBC-TV18reported that the 80-year-old automobile giant is considering new factories in states such as Tamil Nadu after failing to secure government-approved subsidies in Maharashtra.
In June, Bajaj Auto’s overall sales grew 28% year-on-year, driven largely by a 47% surge in exports. Domestic sales grew at a slower rate of 11% in the same period.
Sharma expects sales to be slow until the festive demand kicks in starting in August.
For full interview, watch accompanying videoFollow our live blog for more stock market updates
| Electric two-wheeler maker | Market share | Sales growth in 2026 |
| TVS Motor | 24.5% | 57% |
| Bajaj Auto | 22.4% | 34% |
| Ather Energy | 16.2% | 103% |
| Hero Moto | 11.2% | 334% |
| Ola Electric | 8.5% | -49% |
About 30% of the Pune-based company's India revenue comes from electric vehicles. The company is dominant in the electric three-wheeler segment, which contributes up to 4% of its sales.
Hopes are high for the upcoming launch of the electric version of the iconic Chetak scooter in September. "We have not been in scooters, and 40% of two-wheelers in Delhi, for example, are scooters. This is all new business for us," Sharma added.
EV sales have ballooned in India this year as the war in West Asia made petrol prohibitively expensive for many. The demand is also backed by a slew of subsidies from both the Union government and states.
The stock was trading at ₹9,857 at 9:43 am on the NSE and has gained more than 17% over the past year.
However, the Bajaj Auto (market cap of ₹2.75 lakh crore) has its own challenges. Earlier, on June 23,
In June, Bajaj Auto’s overall sales grew 28% year-on-year, driven largely by a 47% surge in exports. Domestic sales grew at a slower rate of 11% in the same period.
Sharma expects sales to be slow until the festive demand kicks in starting in August.
For full interview, watch accompanying videoFollow our live blog for more stock market updates
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