A new brand for its electric three-wheeler company will be introduced by Bajaj Auto Ltd. According to Rakesh Sharma, the company’s executive director, the brand, “Bajaj GoGo,” would only concentrate on electric vehicles in the passenger and cargo industries. He did not, however, disclose the new brand’s launch date.
The company would be able to establish a distinctive brand for its electric three-wheeler products thanks to Bajaj GoGo. According to Sharma, this will help the business stand out from the competition and spur expansion.
In roughly a month, the Pune-based startup also intends to launch another electric three-wheeler. By the conclusion of the fourth quarter, it hopes to significantly expand its market share in the three-wheeler industry with these activities, Sharma stated. The company’s market share in the electric commercial vehicle arena increased from 30% to 35% from October to December of last year. Additionally, the company increased the number of touchpoints in its three-wheeler network from 600 to 850.
According to Vahan data, the three-wheeler sector sold 12.21 lakh units in 2024 with gasoline, diesel, CNG, LPG, and electric powertrains. Electric three-wheelers accounted for 56% of the total sales, with 691,323 units sold. The top three manufacturers in this market were Bajaj Auto, YC Electric, and Mahindra Last Mile Mobility. However, the Pune-based business intends to take the lead by launching new goods and aggressively expanding its touchpoints.
In terms of total sales of three-wheelers, Bajaj Auto dominates the market. Bajaj Auto sold 438,941 three-wheelers in 2024, while Piaggio Vehicles Pvt Ltd and Mahindra & Mahindra Ltd sold 93,731 and 76,450, respectively.
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