Bajaj Auto is developing the world’s first CNG-powered motorcycle and was set to launch it next year. Rajeev Bajaj, managing director of the two-wheeler giant, has said that the company has postponed the launch to the next quarter, reports CNN-AyraNews24x7.
In an interview to the channel, Bajaj said that the inspiration behind the CNG bike is from an environmental perspective. Compared to a gasoline bike, carbon dioxide is about 50 percent less, carbon monoxide is 75 percent less and non-methane hydrocarbons are 90 percent less, he said.
Also read: Economic Survey: Number of EVs in Delhi increased from 34,000 to 144k in 1 year
Bajaj Auto MD said CNG-powered bikes are ‘potentially fantastic’ for the environment. He took cues from Hero Honda’s strategy of doubling the mileage or halving the fuel cost for citizens.
However, Bajaj said users should not keep their expectations high as there will be only one launch this year, adding that the company is focusing on getting the ‘fundamentals’ right.
Bajaj Auto’s total two-wheeler sales rose 25% to 294,684 units in the month, Reuters reported.
Recently, Bajaj Auto had announced that it has invested additional 45.75 crore in electric bike-sharing platform Yulu Bikes. After the fresh investment, the company’s stake in Yulu Bikes stands at 18.8 per cent of the paid-up equity share capital of the electric bike-sharing platform, Bajaj Auto said in a regulatory filing.
In 2019, Bajaj Auto announced an investment of US$8 million (approximately) Rs 66 crore in Yulu to promote electric vehicle adoption in India).
According to rating firm ICRA, the domestic passenger vehicle (PV) market is estimated to grow by six to nine percent in the current financial year compared to the previous financial year.
Overall, the PV industry will achieve a sales figure of 4.2 million units in the current financial year, PTI said quoting ICRA data.
