Bajaj Auto has unveiled RE60 quadricycle ‘Qute’ at a free-on-board (FoB) price tag of $2,000 (around Rs 1.35 lakh). FoB refers to terms requiring the seller to deliver goods on board a vessel designated by the buyer. The price of the vehicle will differ in each market depending on the duties and taxes of each country.
As of now, the vehicle is meant only for export as the regulations for India are not yet in place due to ongoing public interest litigation in the Supreme Court. The vehicle will be exported to 16 countries, including Turkey, Indonesia, Sri Lanka, Thailand, Bangladesh, Kenya, Peru and Ecuador, starting October 2015 and will start with around 100 units initially.
Bajaj Auto is a $2.3 billion company founded in 1926. It is world’s fourth largest two and three-wheeler manufacturer. Bajaj Auto has three plants in all, two at Waluj and Chakan in Maharashtra and one plant at Pant Nagar in Uttaranchal.
