Will Bajaj make this statement come true with the launch of the Urbanite brand, is the question.
Bajaj Auto recently reported that the company had made its all-time high monthly sales growth for October this year. Being one of largest two-wheeler maker in India, the company reported a combined net profit of Rs. 1152 crores, which is a 4 percent bump YoY from the corresponding quarter in the previous year which saw the company make Rs. 1112 crores.
During the time of this statement, Rajiv Bajaj, Bajaj Auto’s Managing Director revealed how the company could’ve made a Tesla on two wheels and about the biggest blunder by the company, which was launching the 100cc variant of the Discover motorcycle. He also mentioned how the automaker will try to work on making electric vehicles in the coming year.
Rajiv Bajaj stated, how the decision to downgrade the power of the Discover engine from 125cc to 100cc made the company come down to the second position in the Indian market in terms of sales volumes. According to him, the company’s greed to see how a 100cc model of the Discover would do when the 125cc was well accepted by the Indian customers became the reason for the downfall of the company. Soon the company lost their position and in half a decade, their performance too.
In another recent announcement, Bajaj Auto revealed that the company will soon launch an electric premium vehicle segment under the brand name ‘Urbanite’. The brand is expected to launch a slew of electric vehicles in 2020. Urbanite is expected to shake the electric vehicle segment and is likely to introduce performance-oriented motorcycles and scooters with long-range capabilities paired with advanced telematics.
After talking about their biggest blunder, Bajaj believes that they could have made a Tesla on two-wheels or a Tesla on three-wheels by this year. However, they are targeting this move for 2019 now.
Bajaj Urbanite Bikes
– Bajaj will launch electric two-wheeler before 2020
– Will be launched under the brand name Urbanite
– Bajaj believes that the electric vehicle will be the Tesla for two and three-wheelers
