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Bajaj Auto to enter e-rickshaw market with new brand ‘Riki’ from August 10
Managing Director Rajiv Bajaj confirmed that the company will launch Riki in a phased manner, beginning with four key markets.
Riki will be Bajaj Auto’s second major electric offering in the three-wheeler category and is likely to compete with a range of unorganized and regional players in the space. (Photo: Unsplash)
Bajaj Auto is set to make its entry into the fast-growing electric rickshaw segment under a new brand name, Riki, with sales beginning on August 10, CNBC-TV18 reported.
As reported by CNBC-TV18, Managing Director Rajiv Bajaj confirmed that the company will launch Riki in a phased manner, beginning with four key markets. Production of the e-rickshaw has already commenced at the company’s manufacturing facilities.
“In the first four markets, we will go to market on the 10th of August under the brand Riki,” Bajaj said. “As we have done with the Gogo, we’ll build it up slowly. We will wait a quarter or two before we scale it up, because we need to get the product absolutely right.”
The launch comes on the heels of Bajaj Auto’s recent success with the Gogo, its electric three-wheeler that has emerged as a market leader in its category. However, Bajaj stressed that the company is still navigating its learning curve in the electric mobility space.
“We are still making our way up the learning curve in all respects, technology, product, and customer service, as far as electric technology is concerned,” he said, adding that the company will focus on refining the product and customer experience before a broader rollout.
Read More: Bajaj Auto Q1 profit rises 13.8% to Rs 2,210 crore; EVs contribute over 20% to domestic sales
The e-rickshaw segment, which forms a significant part of India’s last-mile mobility ecosystem, has witnessed rapid growth in recent years. Bajaj Auto’s entry into this space is expected to further formalize and consolidate the market, especially in Tier-II and Tier-III cities.
Riki will be Bajaj Auto’s second major electric offering in the three-wheeler category and is likely to compete with a range of unorganized and regional players in the space. The company has not yet disclosed specifications or pricing details for the Riki model.
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