Bajaj Auto Enters E-Rickshaw Market with Riki Launch
Filing Summary
Bajaj Auto Ltd has announced its entry into the e-rickshaw segment with the launch of Bajaj Riki. The company extends its partnership with three-wheeler drivers, offering models Riki P4005 and Riki C4005. The P4005 features a 149 km range and is priced at INR 1,90,890, while the C4005 offers a 164 km range at INR 2,00,876. The launch addresses market gaps in reliability and safety, leveraging Bajaj Auto’s extensive service network. The initiative targets over 100 towns across several Indian states in its first phase.
Bajaj Auto Ltd has officially entered the e-rickshaw market with the launch of its new product, Bajaj Riki. This move extends the company’s longstanding partnership with three-wheeler drivers, aiming to address the growing demand for last-mile mobility solutions. The launch includes two models: the Riki P4005 and the Riki C4005, each designed to meet specific needs within the e-rickshaw segment.
The Riki P4005 is equipped with a 5.4 kWh battery, offering a range of 149 km. It is priced at INR 1,90,890 (ex-showroom). The Riki C4005, priced at INR 2,00,876 (ex-showroom), provides a certified range of 164 km. This model features a larger tray and 28% gradability, enhancing its utility for cargo transport. Both models incorporate features such as a monocoque chassis, hydraulic braking, and independent suspension, aimed at improving durability and safety.
The operational scope of Bajaj Riki includes addressing common challenges in the e-rickshaw market, such as low range, weak durability, and limited service networks. Bajaj Auto leverages its extensive service network to offer higher uptime and lower maintenance for Riki models. The vehicles are designed to provide safer operation and a more comfortable ride, particularly for high-traffic feeder routes in urban areas.
The e-rickshaw segment has seen rapid growth, with over 45,000 vehicles added monthly post-Covid. This expansion is driven by the need for affordable last-mile mobility solutions. Bajaj Auto’s entry into this market aims to fill existing gaps in reliability and safety, leveraging its expertise in the three-wheeler ecosystem. The company has conducted successful pilot programs in cities like Patna, Moradabad, Guwahati, and Raipur.
The launch of Bajaj Riki marks the beginning of a phased rollout, targeting over 100 towns across Uttar Pradesh, Bihar, Madhya Pradesh, Chhattisgarh, and Assam. This initiative is part of Bajaj Auto’s strategy to expand its presence in the electric vehicle market, focusing on regions with high demand for last-mile connectivity solutions.
Bajaj Auto Ltd is a leading manufacturer of two- and three-wheelers, known for its extensive global reach and innovation in vehicle design and technology. The company is recognized as the world’s largest manufacturer of three-wheelers and India’s top motorcycle exporter. Bajaj Auto continues to focus on new product initiatives, reinforcing its position in the global automotive industry.