Bajaj Auto to launch CNG-run motorcycle in June 2024, declares MD Rajiv Bajaj

Bajaj Auto will be launching a Compressed Natural Gas-run motorcycle in June 2024. Bajaj Auto MD Rajiv Bajaj said the fuel transformation will attract environmentally conscious consumers and will offer enhanced fuel efficiency.

Highlighting that the Centre has well expanded the CNG network across India, Bajaj said that the new bike will be positioned to appeal to mileage-conscious riders and is anticipated to be launched under a distinct brand.

With 60,000 to 70,000 CNG-run 3-wheelers being sold every month, Bajaj told news agency PTI said that the three-wheeler industry largely migrated to CNG in the past five years.

These CNG motorcycles are expected to have higher prices than traditional petrol models due to the increased manufacturing costs related to CNG technology and the specialised tank allowing for both petrol and CNG fuel options.

Besides this, Bajaj added that Pulsar, which is one of its bestseller, launched 20 years ago will soon hit 2 million units.

He also talked about the company's transition from scooters to bikes and domestic to export markets. He said the ability to make a transition at the right time is the real hallmark of a company.

ajaj emphasized the Group's commitment to promoting an inclusive and prosperous future for all Indians. He stressed the significance of practical skills training in the manufacturing sector, leveraging knowledge from programs like the Bajaj Engineering Skills Training (BEST) initiative introduced the year before.

"Launching the Bajaj Engineering Skills Training (BEST) last year has been a valuable learning experience for us. It gave us a very clear picture of the critical gap between theoretical education and practical skills needed in the manufacturing industry. The insights gained through BEST acted as a cornerstone in laying down the groundwork. With Bajaj Beyond, we will expand our skilling efforts across the group," Rajiv Bajaj said.

Besides this, he said the Bajaj Group has committed Rs 5,000 crore to social impact initiatives over 5 years, with a focus on skill development, under 'Bajaj Beyond' the Group's new identity for all its CSR and charitable programmes.

This will benefit over 2 crore of tomorrow's youth and enable them to take advantage of the employment and entrepreneurial opportunities offered by India's growing economy.

Stressing that no one change the world by creating a sensation of claiming to spend thousands of crores to generate lakhs of jobs, he outlined the importance of skilling in the workforce as he referred to a conversation between Mahatma Gandhi and Bajaj Group's founder Jamnalal Bajaj, who had termed CSR as constructive social reform.

The Bajaj Group's humanitarian efforts are channeled through several institutions. The Jamnalal Bajaj Foundation, Jankidevi Bajaj Gram Vikas Sanstha, and the Kamalnayan Bajaj Hospital, among others, have worked unceasingly to uplift and empower communities, Bajaj Auto Chairman Niraj Bajaj said.

In Q3 FY24, Bajaj Auto reported its net profit grew 37 per cent year-on-year (YoY) to Rs 2,042 crore as against Rs 1,491 crore in the same quarter last year> It was mostly due to strong domestic demand for its motorcycles and three-wheelers.

The auto major reported 30 per cent YoY rise in standalone sales at Rs 12,114 crore in Q3FY24 compared with Rs 9,315 crore in the year-ago period. Bajaj Auto said its Ebitda for the quarter grew 37 per cent to Rs 2,430 crore and that its Ebitda margin expanded 100 basis points YoY to 20.1 per cent against 19.1 per cent in the year-ago quarter.

On Friday, Bajaj Auto's scrip on BSE closed 2.11 per cent higher at Rs 8935.60.