From producing India’s most affordable scooter to a foray into sports bikes and now an electric scooter, the rise of Bajaj Auto in many ways has chronicled the India growth story - and the auto giant is willing to take on the EV manufacturers head on.

After taking the Chetak EV to 20 plus cities, the company has announced Rs 300 crore investment to build capacity for 5 lakh EV units per annum.

In an exclusive interview to CNBC-TV18, Rajiv Bajaj, MD of Bajaj Auto said, “It is far cheaper to be wrong than it is to be late. So Bajaj Auto would not like to be late to the electric vehicle party just as it was 8-10 years late to the 100cc 4-stroke motorcycle party.”

He said, they are looking to produce 50,000 EVs in FY23 compared to 8,000 in FY22.

“We are currently producing about 1000 Chetak’s every month. We are hoping from April to step that up to 2000 scooters every month. In the next financial year we hope to exceed 50,000 electric vehicles compared to 8000 that we would be making this year.”

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