Bajaj Auto is set to expand its electric vehicle lineup with the launch of a new variant of the Chetak electric scooter in the coming months. This was confirmed by Rakesh Sharma, Executive Director of Bajaj Auto, in a recent interview. The introduction of a new Chetak variant is a strategic move by Bajaj to strengthen its position in the electric scooter market.
Anticipated Features of the New Chetak Variant
The upcoming Chetak variant is expected to be a more affordable version, possibly priced below Rs 1 lakh. To achieve a lower price point, Bajaj might opt for a monochrome display instead of the current colour LCD. Additionally, the new variant could feature a smaller battery pack and a less powerful motor to further reduce costs.
Impact of FAME 2 Subsidy Phase-Out
The FAME 2 subsidy, which has been supporting the electric vehicle market, is set to be replaced by the Electric Mobility Promotion Scheme 2024 (EMPS) starting April 1, 2024. Rakesh Sharma believes that while the removal of subsidies may temporarily affect the market growth rate due to increased EV prices, it will ultimately lead to a more robust market with serious players and consumers.
Launch Timeline and Expansion Plans
The new Chetak variant is anticipated to launch around April or May 2024. With the launch Bajaj aims to compete with other popular electric scooters like the Ola S1 X, Ather 450S and TVS iQube. Additionally, Bajaj plans to expand its dealer network from the current 200 to over 500 in the next three months further strengthening its market presence.
?The upcoming variant of the Bajaj Chetak electric scooter is an exciting development for the Indian EV market. With its more affordable pricing and Bajaj's expanded dealership network. The new Chetak variant is poised to attract a wider range of customers and contribute to the growth of electric mobility in India.