New Delhi: Indian two-wheeler giant Bajaj Auto is reportedly working on a new budget-friendly electric scooter following the success of its Chetak model. The upcoming electric vehicle (EV) scooter has been spotted testing on Indian roads, fueling anticipation among prospective buyers. As per agency report, industry experts believe that Bajaj might price this new electric scooter around ₹80,000 (ex-showroom), making it an attractive option for budget-conscious consumers.

There is speculation that this new model could either be a more affordable variant of the existing Chetak or an entirely new budget-friendly scooter. Spy images of the test prototype reveal similarities to the Chetak, particularly in the headlight design. However, noticeable differences include a more compact seating area and a shorter floorboard. The prototype also features oval-shaped front mirrors, a redesigned fork cover, and a single-pod taillight, distinguishing it from the Chetak.

Designed with urban commuting in mind, the scooter's compact frame makes it a practical choice for city riders. In terms of hardware, the vehicle is expected to come equipped with a front disc brake, dual rear shock absorbers, 12-inch wheels, and a front apron hook for added convenience.

On the performance front, the new Bajaj electric scooter is likely to feature a hub-mounted electric motor, a cost-effective solution for manufacturers. The scooter's top speed is anticipated to be around 50 km/h, with a battery pack smaller than that of the Chetak.

While Bajaj Auto has not officially announced the launch date or specifications, the testing phase indicates that the company is preparing to introduce a more accessible electric mobility option, potentially boosting the adoption of EVs in India’s two-wheeler segment.

Mumbai, Jan 25 (IANS) Bajaj Auto has toppled Mahindra & Mahindra (M&M) as the third most valued auto company in the country.

Bajaj Auto's market cap on Thursday crossed the Rs 2 lakh crore-mark to touch Rs 2.04 lakh crore, surpassing M&M.

Maruti Suzuki has a market cap of Rs 3.13 lakh crore, while Tata Motors mcap is Rs 2.59 lakh crore.

Bajaj Auto stock gained 5.3 per cent to close at Rs 7,596 on Thursday.

Arun Agarwal, Vice-President & Automobile Analyst, Kotak Securities, said Bajaj Auto’s volumes grew 14 per cent QoQ led by 30 per cent QoQ volume growth in the domestic two-wheeler segment.

Its EBITDA margin expanded YoY, supported by commodity tailwinds. In Q3FY24, gross profit per vehicle and EBITDA per vehicle improved over Q2FY24. Recovery in the domestic two-wheeler segment is expected to continue.

“We are impressed by Bajaj Auto’s margin resilience despite adverse mix (3W volume contribution down 300bps QoQ). This validates the fact that its margin performance is not overtly dependent on 3W performance. Domestic 2W retail market share gain has been impressive at 150bps YoY to 12 per cent YTDFY24. Domestic 2W industry volumes have held up post festive season as well. We expect these to grow in high single-digit in FY25E," Elara Securities said.

New Delhi, Jan 8 (IANS) The board of directors of Bajaj Auto has approved a Rs 4,000 crore share buyback at a price of Rs 10,000 a share which is at a huge premium of 43 per cent to the last closing price.

Bajaj Auto share closed at Rs 6,985 on Monday, up by 0.25 per cent.

Bajaj Auto said under the buyback issue it will be buying 40 lakh shares via tender route, representing 1.41 per cent of Bajaj Auto's outstanding shares.

In terms of Regulation 5 (via) of the Buyback Regulations, the Board / Buyback committee may, till one working day prior to the record date, increase the Buyback price and decrease the number of Equity Shares proposed to be bought back, such that there is no change in the Buyback Size.

The Board has constituted a Buyback Committee and has delegated the power to do all such acts, deeds, matters and things as it may, in its absolute discretion, deem necessary, expedient or proper in connection with the Buyback.

The Buyback is subject to approval of the shareholders by means of a special resolution through a postal ballot.

The public announcement and letter of offer setting out the process, timelines and other requisite details will be released in due course in accordance with the Buyback Regulations.