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Bajaj Chetak: More Affordable Model Set to Arrive in May 2024

Rakesh Sharma, the Executive Director of Bajaj Auto, revealed the news during a recent post-earnings conference call.

By Newsd
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Bajaj Chetak

Bajaj Chetak: This quarter, April to June 2024, Bajaj Auto is expected to release a budget-friendly version of the Bajaj Chetak electric scooter.

Rakesh Sharma, the Executive Director of Bajaj Auto, revealed the news during a recent post-earnings conference call. While a specific launch date wasn’t provided, indications point to a May 2024 release.

Technical and Cost Innovation

According to rumors, the upcoming variant will have a hub-mounted motor instead of the mid-mounted motor used in the Urbane and Premium.

This new variant is expected to cost around Rs 1 lakh, making it more accessible than the existing models.

Impact of sales on the market

Over the past year, the Bajaj Chetak has performed impressively in the electric scooter market.

According to SIAM (Society of Indian Automobile Manufacturers), 13,620 units were sold in February 2024 alone, and 103,763 between April 2023 and February 2024.

With the introduction of an affordable variant, Bajaj’s footprint in the EV market is likely to grow even further.

Competition and pricing

It is expected that this new variant will be positioned below the Chetak Urbane in Bajaj’s product lineup, and will cost around Rs 1 lakh, inclusive of the EMPS 2024 subsidy.

As a key player in the electric scooter segment, it will compete directly with the Ola S1 X, Ather 450S, and TVS iQube. Chetak’s calculated action aims to increase Chetak’s appeal to a wider market by taking advantage of the growing need for affordable electric mobility options.

Also Read: Bajaj Finance Increases FD Interest Rates to 8.85%: Find Out Returns on Investments of Rs 3 lakh, Rs 5 lakh

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