Bajaj Auto plans to invest Rs .750 crore in the EV sector to boost EV lineup

Bajaj Auto plans to invest Rs .750 crore in the EV sector to boost the EV lineup.

Bajaj Chetak Electric Scooter

Bajaj Auto announced the investment of 750crore in current expenditure in the final year FY23 as per the Autocar report.

Details here

Bajaj also planning to open any factory to facility two or three-wheelers like Waluj and expands production in its Chandan plant.

The capital expenditure (CapEx) of Bajaj for Fy 23 is the highest investment done by the company in the EV sector.

Last two years, bajaj Auto spent Rs 620 crore in FY22 and Rs .183 crore as CAPEX in FY21.

the CAPEX of bajaj from FY16 to FY18 is around Rs. 640 crores & for Fy20 it invest Rs 199crore.

What CFO said?

Chief Financial Officer (CFO), Dinesh Thapar, said Bajaj Auto the current investment is a step up over the past. “Capex for the first half is closer to about Rs 335-340 crore. The CapEx is going on clearly to establish the EV facility that we have for two-wheelers and also an EV plant for three-wheelers in Waluj. A part of it will also be spent on the expansion of a new site at our Chakan facility for premium motorcycles and then, of course, routine CapEx. So, I expect that to be Rs 750 crores for this year,”.

Bajaj Chetak Electric Scooter is now Available for purchase in New Delhi, Mumbai, and 18 other Indian Cities.

Bajaj Auto plans to invest Rs .750 crore in the EV sector to boost EV lineup
Credit:Rushlane

Bajaj automaker company announced on Thursday 17, February 2022, the new bajaj chetak is now live for purchase in major cities like Mumbai, New Delhi, and goa out of 20 cities, the company added that it has managed to double up the chetak network in the first six weeks of 2022.

Additionally, Bajaj electric Scooter is only available for Pune and Bengaluru customers.

Moreover, Bajaj also unveil an investment of 300crore to increase the production of electric vehicles – Rakesh Sharma, Executive Director, Bajaj Auto said, “Chetak’s success has been built on the quality of a thoroughly tested, dependable product. An on-ground network of sales and service reduces the anxiety of a customer venturing into an unfamiliar category such as electric scooters. Our plan is to double Chetak’s network in the coming few weeks to accommodate the high demand.”

Let us talk about the features of the Bajaj chetak, it comes with an IP67 electric motor that is capable to generate a power of 4.08kw and continues out of 3.8kw, it has 3kwh of a lithium-ion battery pack with a detachable system as the policy of the government(battery-swapping station).

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