Indian motorcycle manufacturer Bajaj Auto is looking to enter electric vehicle segment by 2020. This was revealed by MD of the company, Rajiv Bajaj in an interview with Livemint.
Rajiv Bajaj stated that the company is working on a new niche brand named as Urbanite. Bajaj also said that the Urbanite brand would be similar to Tesla in the two-wheeler segment.
Rajiv Bajaj's statement indicates that the Urbanite will be different from the most of the low-cost electric two-wheelers entering the Indian market. The EVs sold currently have very low performance and cannot be used for long range commutes.
Apart from Bajaj Auto, Hero Electric has been in the Indian market for around ten years and has 300 sales and service centres. TVS Motor Company is also working on an electric scooter. But Bajaj Auto is the first Indian two-wheeler company to announce a separate EV division within the company.
Bajaj's Urbanite brand will focus on premium two-wheelers and even the three-wheelers. The EV brand could spawn a premium electric motorcycle or a premium electric scooter.
Bajaj's premium offering in the electric vehicle segment is likely to rival the T6X electric motorcycle from Pune-based Tork Motorcycles. The scooter is expected to lock horns with the S340 smart electric scooter from a Bangalore-based startup company, Ather Energy.
Like several other automakers, Bajaj Auto has also entered the electric vehicle segment. The company has gone a step ahead by announcing its EV brand named as Urbanite which will focus on premium electric two-wheelers.