Bajaj Auto is working on a new affordable electric scooter set for May 2024 launch
Bajaj Auto is gearing up to launch its more affordable electric scooter under the Chetak lineup. This is an effort to maximize EV adoption with the decreasing government subsidies, now that the FAME II subsidy has been revoked. The automaker is set to launch a new Chetak scooter in May which is more affordable and offer the brand’s trusted build quality and experience.
Bajaj Auto’s expansion
In an effort to expand its portfolio, Bajaj is also eyeing on further expansion of its retail and service outlets pan India and plans to expand with the new product launch in May. Currently, the brand has two electric scooters in its lineup that includes the Bajaj Chetak Urbane and the Chetak Premium. The Urbane starts at Rs. 1.23 Lakh, while the Premium starts at Rs. 1.47 Lakh (All prices ex-showroom).
The automaker has sold 1,06,431 units of its Chetak electric scooter in financial year 2024. It gained the automaker a market share of 14% which is a gradual increase when compared to FY23. The brand is accessible in 164 cities across India with 200 stores. The new Chetak launch and the further expansion of the company’s retial stores will increase to 600 stores in the new 3-4 months.
New Affordable Chetak
Rakesh Sharma, Bajaj Auto’s executive director said the new product upgrade in Q4 gained a positive feedback and the new product will launch in May, this year. This new product will target the masses and will make the transition to electric mobility easier for the consumers. Sharma didn’t disclosed the official pricing of the scooter but stated that the scooter will not be a premium segment product, emphasizing to a broader segment of the population.
The upcoming affordable Bajaj Chetak will feature a smaller battery compared to the current lineup of Chetak. It will also come equipped with a hub motor instead of a mid-mounted electric motor. Recently, this new Bajaj electric scooter was spotted during testing and it showed a hub motor design instead of the Chetak’s usual belt-drive one, suggested its launch a while ago.
Bajaj Auto’s attempt for a new scooter became stronger after Ola Electric announced its new pricing of the more affordable S1X lineup on Monday. To compete with Ola and more brands in the entry-level segment, the affordable Chetak will play a key role in achieving more sales.
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