Bajaj Auto Set to Launch Affordable Electric Scooter in May
To boost electric vehicle (EV) adoption and counter the diminishing subsidy support, Bajaj Auto is set to broaden its EV offerings by launching an affordable electric scooter. Scheduled for release in May. this new model will be an addition to the Chetak line, known for its blend of tradition and modern electric mobility. Alongside this, Bajaj Auto is aggressively expanding its retail presence, aiming to triple its outlets within the next few months.
Rakesh Sharma, Executive Director of Bajaj Auto, highlighted the enthusiastic reception of their recent product updates and announced, “We will be introducing a new product by May.” Bajaj Auto’s current Chetak series includes two models: the Chetak Urbane 2024 and the Chetak Premium 2024, priced at Rs 1.23 lakh and Rs 1.47 lakh respectively.
Sharma further elaborated on the pricing strategy for the upcoming scooter, emphasizing its target at the mass market. He noted, “It’s designed to be a non-premium, more accessible offering with widespread appeal.” Details suggest the scooter will feature a smaller kWh battery and a hub motor, positioning it as a practical option for everyday users.
Bajaj Auto has shown significant growth in the electric two-wheeler segment, with sales figures from the Vahan portal indicating that the company sold 106,431 Chetak e-scooters in the financial year 2024, capturing a 14% market share. Over the same period, Bajaj reported a threefold increase in Chetak dispatches, with 115,702 units shipped, according to data from SIAM.
The company has made substantial investments to enhance its competitive edge and operational capabilities, which include product innovation, network expansion to 164 cities, and vigorous brand promotion efforts. These strategies have notably positioned Chetak for further expansion.
Concurrently, Hero MotoCorp is preparing to launch two new models under its Vida brand, one of which will be a budget-friendly option projected to cost around Rs 1 lakh, while the other will cater to the mid-price segment.
Presently, Chetak scooters are available in 164 cities through approximately 200 retail locations. Bajaj Auto plans to increase this number significantly to around 600 stores in the coming three to four months. Sharma states, “We are expanding our footprint quite aggressively, aiming for nearly 600 stores shortly.”
This strategic expansion underscores Bajaj Auto’s commitment to enhancing accessibility and affordability in the electric scooter market, aligning with broader efforts to transition towards sustainable mobility solutions.
