Bajaj Auto’s EV revenue nearly doubles as Chetak demand outstrips capacity
Bajaj Auto reported Q1 revenue of Rs 17,244 crore, up 37% year on year, while net profit rose 42.3% to Rs 2,983 crore. EVs contributed about 30% of domestic business, with Chetak demand exceeding capacity and Riki electric rickshaws reaching more than 150 cities.
Bajaj Auto reported strong Q1 growth across domestic vehicles, EVs and exports. Chetak demand exceeded capacity, while Riki expanded to over 150 cities. The company is accelerating EV manufacturing and distribution investment, backed by Rs 21,000 crore-plus surplus funds.
Why this matters
The EV growth supports Bajaj Auto’s recent statement that EVs contribute 30% of domestic revenue and its target for EVs to reach half of sales, alongside Q1 profit growth driven by exports.
Retail-company signals are accelerating, up 984300% QoQ.