New Delhi. Bajaj Auto is rapidly progressing in the EV segment. For the past several months, it has also been the second largest electric two-wheeler company in the country. Now, the company has unveiled the timeline for bringing its first electric motorcycle to the market. In fact, the company will introduce its electric motorcycle in the next financial year. It wants to expand its electric vehicle portfolio beyond the Chetak range and three-wheelers. This announcement was made during the company’s Q1 FY27 earnings call, where it also revealed plans to increase Chetak production after demand exceeded manufacturing capacity.
CNG motorcycle sales down
The company brought back the Chetak nameplate for its first electric foray into the two-wheeler sector, and it has paid dividends. It is currently one of the best-selling electric scooters in the domestic market. While the Freedom CNG offering saw only modest success, Bajaj is venturing into the less-explored zero-emission motorcycle sector, where mainstream manufacturers currently have little presence.
Electric vehicle contribution was %
The company said electric vehicles contributed nearly 30% to its local business in the April-June 2026 quarter. In line with the popularity, the monthly production capacity of the Chetak will be increased from 50,000 units to 60,000 units over the next few months to address supply constraints. This announcement comes at a time when competition in the electric two-wheeler segment is reaching new heights.
Revenue increased to Rs 17,244 crore
Brands including TVS Motor, Hero MotoCorp and Ather Energy have strengthened their electric scooter portfolios with fresh investments to boost their future in this segment. Along with the product updates, Bajaj Auto reported its highest quarterly financial performance for the April-June 2026 period, as revenue from operations grew 37% year-on-year to ₹17,244 crore.
Its profit after tax increased by more than 40% to nearly ₹3,000 crore, and EBITDA crossed ₹3,500 crore. Margins improved to 20.9%. The domestic business reported 26% revenue growth during the quarter, with double-digit gains in both two-wheeler and three-wheeler segments. Revenue from the EV business nearly doubled compared to the same period last year.
Strong sales in foreign markets
The company said that production was limited due to manufacturing capacity and component availability. This was another record quarter for exports, as Bajaj Auto crossed the 7 lakh mark for the first time, driven by growth in Latin America and recovery in Africa. The company said that exports to Africa more than doubled year-on-year, led by a three-fold increase in Nigeria, and commercial vehicle exports also increased by nearly 70%.