AMBITIOUS, BUT NOT INSURMOUNTABLE

Can India replicate its ICE two-wheeler success in the electric space to conquer the global markets?

- BY RAKESH SHARMA Executive Director, Bajaj Auto

At first glance, the prospect of Indian electric two-wheeler (E2W) makers conquering global markets may seem ambitious. Yet, history suggests otherwise. Our two-wheelers have seen an impressive journey in the global internal combustion engine (ICE) segment.

From local to global

At the turn of the millennium, Indian two-wheelers had a negligible global presence. Exports were at barely 100,000 units in 2000. Two decades later, this has surged 40-fold to 4.2 million units across 120 countries and accounts for nearly 20% market share among emerging economies. Three-wheelers, too, have risen nearly 30 times, spanning more than 50 countries. Companies such as ours spearheaded this transformation and continue to dominate India’s global mobility drive.

In the three-wheeler segment, Bajaj Auto has developed a use case for most of these countries, demonstrating product strength and business development capabilities in distant markets such as Mexico, Peru, Congo, and the Philippines. Crucially, this success has not come at the cost of profitability. Indian makers have competed against low-priced Chinese players and premium Japanese heritage brands, while maintaining financial discipline.

Perhaps more striking is the ubiquity of Indian two-wheeler networks overseas. From Africa to Latin America, they have established a robust market ecosystem that few branded products from other segments can boast of.

Engines of success

The following five capabilities have driven Indian two-wheelers’ rise into a global benchmark of competitiveness and adaptability: