Bajaj Auto is set to introduce a new, more affordable variant of its Chetak electric scooter this coming May. This initiative is part of Bajaj's strategy to make electric vehicles (EVs) more accessible to the general public especially as government subsidies for EVs begin to decrease. The aim is to continue promoting the adoption of electric vehicles by offering an economically viable option.
Details on the Upcoming Chetak Model
The upcoming Chetak variant is expected to be the entry-level model in Bajaj's electric scooter line-up which currently includes the Chetak Urbane and Chetak Premium. The Urbane starts at Rs 1.23 lakh, while the Premium is priced from Rs 1.47 lakh. In contrast, the new model will target the mass market with its affordability and features designed to appeal to a wide range of consumers.
Features and Pricing Insights
During a post-earnings call, Rakesh Sharma, Executive Director of Bajaj Auto, shared insights about the new model. Sharma emphasized that the new Chetak would not be a premium product but rather aimed at capturing a larger segment of the market with its mass appeal. He mentioned that while exact pricing details could not be shared at the moment, the scooter would definitely be competitively priced. It is also expected to come equipped with a smaller battery and a hub-mounted motor, a configuration spotted in test models last year.
Expansion Plans and Market Presence
Bajaj Auto entered the EV market in January 2020 and has seen significant growth, selling 106,431 Chetak e-scooters in FY24, thereby achieving a 14% market share. The Chetak is currently available in 164 cities and around 200 stores nationwide. With plans to expand to about 600 stores in the next three to four months, Bajaj Auto is looking to significantly increase its retail footprint, supporting its goal of making electric scooters more accessible across India. This strategic expansion underscores Bajaj Auto's commitment to advancing sustainable transportation solutions.