Automotive Manufacturing - Two and Three-Wheeler Vehicles
Strategic Profile
The company engages in the development, manufacture, and distribution of motorcycles, bikes, commercial vehicles, electric two-wheelers, and three-wheelers. Bajaj Auto is India's largest exporter of motorcycles, three wheelers and quadricycles, with strong presence across 79 countries. The company launched its first electric scooter, the Chetak, in January 2020 and announced a ₹300 crore investment in an EV facility capable of producing 500,000 electric vehicles annually.
Cyborg Score Rationale
Bajaj Auto demonstrates strong fundamentals with trailing-twelve-month revenue of ₹559B and a market cap of ₹2.67T, commanding significant market leadership in two and three-wheelers. However, the company faced headwinds in 2025 with global sales declining 3.4% to approximately 3 million units, driven by a 7.8% domestic volume drop. The company's strategic pivot to electric vehicles and international expansion present growth opportunities but face near-term execution challenges.
Top Insights
Bajaj Auto's main 2026 objective is to regain domestic market share through a robust strategy including launch of new 125cc commuter motorcycles.
In December 2020, Bajaj Auto crossed a market capitalization of ₹1 trillion (US$12 billion), becoming the world's most valuable two-wheeler company.
The company holds 47.99% of KTM AG of Austria through its subsidiary, with KTM manufacturing 100,000 motorcycles annually at its Chakan facility.
Bajaj Auto has 6,192 employees as of March 2024.
Named Competitors
Hero MotoCorp — Leading two-wheeler manufacturer in India
TVS Motor — Multi-segment motorcycle and scooter manufacturer
Eicher Motors — Royal Enfield motorcycles and commercial vehicles
KTM — Premium motorcycle manufacturer (47.99% stake held by Bajaj)
Recent Developments
(January 2026) Bajaj Auto launches Chetak C25 electric scooter targeting sub-₹1 lakh segment
(January 2026) Bajaj Auto sees export momentum and market share gains in premium motorcycles
(December 2025) Bajaj Pulsar 150 updated model launched with LED lighting and new colors at ₹1.09 lakh
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