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News on Medial
India's entry-level bike buyers unlikely to return soon, says Bajaj Auto MD
Reuters
·
1y ago
Medial
According to the managing director of Bajaj Auto, the entry-level customers in India's motorcycle industry are unlikely to return in the near future, with buyers increasingly considering electric options. The COVID pandemic, job losses, and rising petrol prices have affected the bottom of the pyramid customers. Bajaj Auto's monthly domestic two-wheeler sales in August declined by 31%, while exports increased by 2%. The company suggests developing compressed natural gas (CNG) two-wheelers alongside government tax incentives to attract entry-level customers.
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Riding on CNG, can Bajaj Auto raid Hero MotoCorp’s fortress?
Livemint
·
1y ago
Medial
Bajaj Auto, led by Rajiv Bajaj, has unveiled the world's first motorcycle that runs on compressed natural gas (CNG), called Freedom. This move is an attempt to make inroads into the entry-level motorcycle market dominated by Hero MotoCorp. Bajaj Auto, which had previously exited the scooter market, has seen a decline in motorcycle sales as well, losing market share to rivals. The CNG motorcycle offers lower running costs and higher mileage compared to petrol motorcycles, addressing concerns about rising petrol prices and fuel economy. Bajaj aims to tap into the potential of the commuter segment and plans to expand exports to various countries.
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Bajaj Auto set to launch world's first CNG bike in Pune
Inshorts
·
1y ago
Medial
Bajaj Auto will launch the world's first CNG bike, likely named Freedom 125, in Pune today. Union Minister Nitin Gadkari would attend the event. Bike features switches for petrol and CNG, aiming for value-conscious customers. It reduces emissions and halves fuel costs. Targeted at customers earning ₹30k-40k/month, it may cost ₹10k-12k more than petrol bikes but promises savings on fuel.
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Mobility startup Yulu bags $19 mn from existing investors
VCCircle
·
1y ago
Medial
Yulu, a shared electric two-wheeler mobility company, has raised $19.25 million in equity funding from existing investors Magna and Bajaj Auto. Bajaj Auto invested $5.8 million for a 1% stake in the company, bringing its total stake to 18.8%. The additional capital will be used to support Yulu's growth and expand its operations and technology innovation. Yulu currently operates in several Indian cities and offers electric bike rental services and EV charging and battery swapping networks. The company is also planning to raise its Series C funding round in the near future.
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EV 2W Race Heats Up: Ather Energy cuts price of 450S to take on rivals Ola Electric, TVS
Inc42
·
1y ago
Medial
Ather Energy has reduced the price of its electric scooter variant, the 450S, by INR 20,000 in order to boost sales and compete in the growing electric two-wheeler market. The entry-level scooter will now be priced at INR 1.09 Lakh in Bengaluru and INR 97,500 in Delhi. Ather is also offering a "Pro Pack" at a reduced cost, which unlocks additional features. The price cut comes as Ather faces increased competition from Ola Electric, TVS Motor, and Bajaj Auto in the electric two-wheeler space.
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‘Ola toh Ola hai, Chetak shola hai’: Rajiv Bajaj takes dig at Ola Electric | Company Business News
Livemint
·
8m ago
Medial
Bajaj Auto's CEO Rajiv Bajaj claimed that the Bajaj Chetak has become the best-selling electric scooter in India, surpassing rival Ola. With over 300,000 units sold to date, Bajaj Auto is set to launch a new model of the Chetak on December 20. Ola Electric currently leads the electric two-wheeler market in terms of market share, but Bajaj's announcement showcases the growing competition in India's EV market.
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Bajaj, Ather, TVS to cut output amid rare earth magnet shortage on China restrictions
Economic Times
·
1m ago
Medial
India's leading electric two-wheeler manufacturers, Bajaj Auto, Ather Energy, and TVS Motor Company, are reducing production due to a shortage of heavy rare earth magnets from China. This supply disruption threatens the sector’s rapid growth. The lengthy shortage, entering its fourth month, has led Bajaj Auto to possibly halve output, while Ather Energy plans an 8-10% reduction. In contrast, Ola Electric maintains its production by stockpiling essential magnets and exploring alternative supply channels.
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Slogans aren't enough, we need to skill Indians more, says Bajaj
Livemint
·
1y ago
Medial
Rajiv Bajaj, the Managing Director of Bajaj Auto, stressed the importance of focusing on skilling Indians to enhance employability rather than relying on empty slogans. He criticized popular initiatives like "Make in India" and "Atmanirbhar" for not having a meaningful impact. Bajaj emphasized the need for action and skills to bring about real change. The Bajaj group announced a commitment of ₹5,000 crore towards various CSR initiatives, particularly focused on skill development, with a goal of skilling 20 million Indians. This initiative aims to consolidate the group's diverse social impact programs under the identity of "Bajaj Beyond."
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Yulu Bikes eyes growth in non-metro towns with franchise model
Economic Times
·
6m ago
Medial
Yulu Bikes, a Bengaluru-based shared mobility service, plans to expand in tier-2 and -3 cities using a franchise model, aiming to grow its 45,000-vehicle fleet to 100,000 by year-end. Supported by major investors like Bajaj Auto, Yulu is exploring diverse services, including bike taxis and e-commerce deliveries. The startup intends to enter international markets with Bajaj's assistance and aims to leverage a battery-swapping network for two-wheelers in India.
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Tata Motors & Hyundai: How to trade these 2 auto stocks? Kranthi Bathini answers
Business Today
·
5m ago
Medial
The auto industry is experiencing high demand in high- and mid-end segments, while the entry-level segment remains slow. This suggests that original equipment manufacturers (OEMs) should focus on higher-end products. The overall outlook for the auto industry is bullish, with opportunities particularly strong in the more expensive vehicle categories, according to the analysis discussed by Kranthi Bathini. This reflects shifting consumer preferences towards higher-tier automobiles.
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Leapmotor targets Indian market with Stellantis
Inshorts
·
1y ago
Medial
Chinese EV maker Leapmotor is looking to enter the Indian market. Partnering with auto giant Stellantis, which recently bought a 20% stake in its global operations, the company seeks to announce its investments and India entry plans soon. On the Other Hand Stellantis, boasts brands like Citroen, Jeep, Fiat, and already has a presence in India through these.
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