Bajaj Auto To Expand 3 Wheeler & Quadricycle Capacity To 1 Million Per Year
Bajaj Auto Limited to expand 3 wheeler & Quadricycle capacity to 1 million per year as Government announces end to Permits
1. Over the last 12 months, there has been an up-surge in three-wheeler demand in India, owing mainly to permits released in Maharashtra, Karnataka, AP and Delhi. Consequently, during the period Sept 17 to Aug 18 Bajaj Auto has sold 435,000 three wheelers representing a growth of 88% and has strengthened its leadership in this segment.
2. At the SIAM convention today, Hon'ble Minister for Transport Shri Nitin Gadkari made a historic announcement moving to a "no-permit" regime for auto rickshaws powered by Alternate Fuels.
3. Bajaj is the market leader with 86% market share in the alternate fuel 3 wheelers and is therefore delighted with this development.
4. This announcement is a further fillip for the Bajaj Qute, which comes with CNG / LPG fuel options, as more and more state governments approve the Qute for taxi applications.
5. Alongside, our three wheeler and Qute volumes in international markets continue to grow at a good clip of 65% YTD.
6. To capitalize on these positive developments, Bajaj will shortly enhance its production capacities of 3 wheelers and Quadricycles to 1 million per year.