In order to continue the adoption of EVs and reduce government subsidies, Bajaj Auto plans to bring more affordable electric scooters under its Chetak nameplate. The brand will launch a new mass-market Chetak E-scooter in May. Along with that, the Bajaj also plans to expand its footprint by 3 times over the next couple of months. We reported an upcoming Chetak by Bajaj back in February but did not have any news on whether it will be a premium or affordable product.
Bajaj Auto executive director Rakesh Sharma told reporters in a post-earnings call that the product upgrade in the fourth quarter was well accepted and the company will be launching a new product by May.
Currently, Bajaj sells electric scooters through the Chetak brand and has two variants – Chetak Urbane and Chetak Premium. The Urbane starts at Rs 1.23 lakh while the Premium comes with a starting price tag of Rs 1.47 lakh.
Rakesh Sharma when asked about the new product’s pricing stated that the brand aims to attack the mass segment with the new model and while he cannot reveal the price yet, it isn’t going to be a premium offering. He further adds that it is going to have a more mass appeal. Judging by his words, the new model will likely sport a smaller battery and a hub motor. A Bajaj Chetak Test Mule was spotted last year with a hub-mounted motor, so it is very much possible that the upcoming launch could be that model.
Fun Fact: Bajaj Auto entered the EV space in January 2020 and sold 1,06,431 Chetak e-scooters in FY24. The Company’s market share improved to 14%. The Chetak is currently available in 164 cities across the nation in around 200 stores, which Bajaj plans to expand to around 600 stores in the coming 3 to 4 months.
