Bike taxi Baxi ties up with Bajaj Finance for motorcycle loan


On-demand bike taxi operator BC Technologies which runs under the ‘Baxi’ brand, today signed an agreement with Bajaj Auto Finance for providing motorcycle loans.

As part of the agreement, Bajaj Finance will provide “attractive loans with minimum processing fees and very low down payment” to salaried individuals who want to buy new bikes with the option to operate on a ride share basis, BC Technologies said in a statement.

“We hope that everyone buying economical bikes in the future will now opt for a commercial version. We are excited about partnering with Bajaj in this journey,” Baxi co-founder Ashutosh Johri said.

Citing the example of Lagos in Nigeria which has more than 10 lakh Okadas, the local bike taxis, with Bajaj Boxer and Platina being the highest selling models, he said: “With this strategic tie up with Bajaj, we can realize the same potential for growth in India.” The tie up will provide a fillip to Baxi’s plans of on-boarding 10,000 bikes in the current financial year, the company said.

Bajaj Auto Senior Vice President, Raunaq Singh, who heads Bajaj Auto Finance said people who could not afford to buy a two-wheeler in the past, because of the high upfront payments, can now own a bike and also earn their EMI and cost of petrol.

“We look forward to unleashing the next wave of entrepreneurship in the country. This partnership opens up a new concept in the personal transport solution space,” Singh added.

Baxi claims to have completed more than half a million rides in its 10 months of operations with a registered customer base of more than a lakh. It currently does nearly 3000 rides per day in Gurugram and Faridabad.


Evercar Suspends Shared Electric Vehicle Service in Los Angeles & San Francisco


Evercar, a provider of shared electric vehicles for on-demand drivers like Uber and Lyft, has ended its operations in Los Angeles and San Francisco.

All member accounts have been suspended. According to the company’s website, it will be processing any remaining invoices by Thursday Oct. 13.

Their website welcome page displays the following message:

Dear Evercar Members:

As of October 10, 2016, Evercar is suspending its on-demand car share operations in Los Angeles and San Francisco.

Over the past year, our team has worked hard to deliver you a reliable service to help you earn money in the on-demand economy. However, due to unforeseen circumstances, we will not be able to deliver that service in the near term. We truly apologize for the disruption that this has caused you.

As you may have noticed, all member accounts have been suspended going forward. This Thursday, October 13, we will be processing any remaining invoices.

We want to thank you for your contribution to the Evercar community. As an Evercar member, you’ve been a true innovator in the on-demand economy. We believe your leadership will transform the way people will think about transportation in the future.

We will continue to work to find ways to bring that vision to the present.

Best wishes,

The Evercar Team

Evercar’s shared vehicles were preapproved for ride-hailing and on-demand delivery platforms including Uber, Lyft, Postmates, and DoorDash. Its $8 hourly rate covers fuel, maintenance, and insurance costs for unlimited miles.

Launched in Los Angeles, Evercar offered access to over 100 shared vehicles in 13 vehicle hubs around Los Angeles County. The company had recently expanded to the Bay Area — offering Toyota Prius vehicles with two locations in San Francisco and Oakland.

Here is an explainer video of Evercar:

Tata Hexa: Expected launch date & expected price; Bookings to commence in November

According to report by Indian Autos Blog, Tata dealerships will start taking bookings for Hexa from November 2016. Though deliveries and the price announcement are scheduled to take place only in January 2017. When asked about the same, a Tata Motors’ spokesperson said that the company does not wish to comment in this regard.

Tata Hexa at Auto Expo 2016

According to the website, the Tata Hexa will, reportedly, cost INR 17.49 lakhs, ex-Showroom, Pune for the top-end XT 4×4 MT variant and INR 17.44 lakhs, ex-Showroom, Pune for the top-end automatic variant, the XTA 4×2 AT. Both, AT and MT variants will feature a 6-speed box.

Both engine variants will use a 2.2-liter four-cylinder VariCOR diesel engine capable of 156 PS at 4,000 rpm and 400 Nm of torque between 1,700-2,700 rpm. In case of the MT variant, a Super Drive Mode will be on offer, with four driving modes – Auto, Rough Road, Dynamic and Comfort. The Super Drive Mode will allow the driver to adjust the engine’s characteristics by altering the interference level of the ESP.

Tata Hexa at Auto Expo 2016

The Mahindra XUV500 and the Toyota Innova Crysta will be the closest competitors to the Tata Hexa. The Hexa is expected to undercut both products on the pricing front.

Interiors of Tata Hexa

Related reading:

Innova Crysta’s success despite the high price spurred other automakers to bring in premium MPVs;Tata introducing Hexa; Renault India patented for an unknown MPV


Source: Indian Autos Blog

Announcement of Personnel Change at Yamaha Motor Co

Yamaha Motor Co., Ltd. announces the following personnel changes, effective October 15, 2016.

Changes in duties of Deputy Chief General Manager

Name New Position Current Position
Keitarou Horikoshi General Manager of Southeast & East Asia
Sales Division, 1st Business Unit,
Motorcycle Business Operations
Thai Yamaha Motor Co., Ltd.
Yoshitaka Konishi General Manager of Production Division,
Pool Business Development Section,
Vehicle & Solution Business Operations
Manager of Production Division, Pool Business
Development Section, Vehicle & Solution
Business Operations

Changes in duties of Group Companies

Name New Position Current Position
Keitarou Horikoshi General Manager of 2nd Marketing
Division, Marketing Section, Marine
Business Operations
and President and Representative Director
of Maricom Tokai Co., Ltd.
General Manager of 2nd Marketing Division,
Marketing Section, Marine Business Operations

Main businesses of the group companies referenced above;

  • Thai Yamaha Motor Co., Ltd.: Manufacture and sales of motorcycles in Thailand
  • Maricom Tokai Co., Ltd.: Operation and management of marinas, marine-related rental businesses and marine sports classes; and sale and repair of boats in Japan

Source: Yamaha Motor Co, Global News Center