By Admin 
Bajaj Auto’s electric vehicle (EV) can now brake at the speed of business. Actually, this time the problem is not of any market or technology, but an essential raw material. Bajaj may have to cut the delivery of his vehicles in the second quarter due to lack of rare meaning magnets.
EV business growing stake
- The EV segment of Bajaj Auto has progressed very fast in the last few years. Compared to last year, this year the company’s electric vehicle business has been more than 20% of its total domestic revenue. Whereas last year this share was between 13 and 14 percent. It is clear that the EV business for Bajaj has now become a big and important part.
Warning of delivery decrease
- Rakesh Sharma, executive director of Bajaj Auto, recently told in a press conference that due to lack of rare economy magnets, the company will be able to deliver its electric scooters in this quarter to only 50-60%. At the same time, delivery of electric three-wheeler can remain around 70-80%. This simply means that the supply of EV vehicles in the market will be reduced considerably and customers will have to wait.
Bajaj is searching for solution
- To deal with this crisis, Bajaj has now started finding a solution. The company is trying to re -designs EV motors in such a way that they can also work with light rare meaning. Rakesh Sharma said that the company aims to reduce the dependence on rare economy magnets by the end of FY 2026. Under this strategy, the company is looking for alternative supply chains and technology, so that such obstacles can be avoided in future.
Large concern on China became a big concern
- Rajiv Bajaj, the managing director of Bajaj Auto, has already warned that if China stops exporting heavy rare economy magnets, India’s EV industry may come to a standstill in a few weeks. This is because the need for rare meaning magnets in the manufacture of electric motors is mandatory, and their biggest supplier is currently China. Let us know that the EV business of Bajaj Auto was still showing good growth, but this shortage in the supply of rare meaning magnets can become a big challenge later.
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