Bajaj Auto Enters E-Rickshaw Market with Riki Launch

Bajaj Auto Ltd has announced its entry into India's e-rickshaw market with the launch of Bajaj Riki, marking the company's expansion beyond its traditional two-wheeler and three-wheeler businesses. The move comes as the e-rickshaw segment adds over 45,000 vehicles monthly, driven by growing demand for affordable last-mile transportation.

The company is introducing two models: the Riki P4005 passenger variant priced at Rs 1,90,890 (ex-showroom) and the Riki C4005 cargo model at Rs 2,00,876 (ex-showroom). The P4005 features a 5.4 kWh battery offering a certified range of 149 km, while the cargo variant provides 164 km range.

Bajaj Auto has equipped both models with features not commonly found in the current e-rickshaw market, including a monocoque chassis, independent suspension, hydraulic brakes, and fast charging capability of 4.5 hours. The vehicles also come with a three-year battery warranty.

According to Samardeep Subandh, President of Bajaj Auto's Intra-City Business Unit, the launch addresses reliability and safety concerns in the existing market. The company identified several issues with current offerings, including limited real-world range, durability problems from lead-acid battery corrosion, inadequate braking systems, and stability concerns.

The Riki was tested in pilot programs across Patna, Moradabad, Guwahati, and Raipur before the commercial launch. In its initial phase, Bajaj Auto plans to expand availability to over 100 towns across Uttar Pradesh, Bihar, Madhya Pradesh, Chhattisgarh, and Assam. The company is leveraging its existing nationwide service network to support the new product line.

E-rickshaws have become increasingly important for urban mobility, serving as feeders to metro systems, suburban rail networks, and city bus services. The segment's growth accelerated following the Covid-19 pandemic as demand for personal and shared last-mile transportation increased.

Bajaj Auto, which describes itself as the world's most valuable two-wheeler and three-wheeler manufacturer, has sold over 21 million motorcycles globally and is India's leading motorcycle exporter. The company was the first two-wheeler manufacturer worldwide to achieve a market capitalization of Rs 2 trillion.