Bajaj Auto has officially launched its entry into the electric rickshaw market under the new brand name, Riki. This move sees the company introduce two models: the P4005 for passenger transport and the C4005 for cargo applications.

The Maharashtra-based vehicle manufacturer is taking a strategic step into a segment that has historically been dominated by unorganized players. Bajaj Auto’s leadership stated that the Riki models are engineered to be superior, ground-up products, positioning the company as one of the first organized entities in this space.

Phased Expansion and Market Targets

The launch comes at a time when the electric three-wheeler market is experiencing rapid growth, with the e-rickshaw segment contributing approximately 40% of the overall market.

Bajaj Auto is implementing a staged expansion plan for the Riki brand:

1. Pilot Phase: The Riki models were initially piloted in four cities: Patna, Moradabad, Guwahati, and Raipur.
2. Phase 1 Rollout: The company is now rolling out the brand to approximately 100 additional cities across key states, including Uttar Pradesh, Bihar, Madhya Pradesh, Chhattisgarh, and Assam.
3. National Goal: The ultimate domestic ambition is to establish a presence in around 200 cities by March (following the launch date).

Production and Future Goals

While the company is currently starting with limited production—manufacturing around 200-300 vehicles per month for the initial markets—it plans to scale up operations after a few months of launch.

Bajaj Auto’s objective is to achieve significant market dominance in this newly entered electric segment over time, mirroring its established leadership in the internal combustion engine (ICE) three-wheeler category. The company is focusing first on consolidating its performance in the domestic market before considering potential export opportunities within three to six months.