Bajaj Auto is getting ready to launch a new, more affordable electric scooter called the Chetak. It’s supposed to come out in June. This move is all about helping Bajaj get an even bigger piece of the growing electric vehicle market. The company wants to make sure it stays ahead, especially with its popular Chetak lineup.
Key Takeaways
- Bajaj Auto is launching an entry-level Chetak EV in June to expand its market presence.
- The Chetak brand has become a top seller in India’s electric two-wheeler market.
- New Chetak models, including an upgraded 2903 and more 35 Series variants, are coming soon.
- Bajaj has greatly increased its retail stores and service centers across India.
- The company is dealing with possible supply issues for rare earth magnets, which are important for EV parts.
Bajaj Auto To Expand Chetak Lineup With New Entry Level EV In June
Bajaj Auto is gearing up to broaden its Chetak lineup with a new, entry-level electric vehicle (EV) slated for release in June. This move aims to strengthen Bajaj’s position in the rapidly expanding EV market. The new model is expected to be an upgrade to the Chetak 2903, and it’s designed to appeal to a broader range of consumers looking for affordable electric scooters.
New Entry-Level Chetak EV Launch
The launch is planned for June, and it’s expected to introduce a more accessible price point for the Chetak brand. This new variant is part of Bajaj’s strategy to capture a larger share of the entry-level EV market. The company is aiming to attract consumers who are looking for a reliable and affordable electric scooter for their daily commute.
Strengthening Market Position
By introducing a new entry-level EV, Bajaj aims to solidify its standing in the competitive Indian EV market. The Chetak has already gained traction, and this new model is expected to further boost its sales and market share. Bajaj is focusing on providing a compelling alternative to traditional petrol scooters, with the added benefit of lower running costs and reduced emissions.
Strategic Portfolio Expansion
This launch is part of a broader strategy to expand the Chetak portfolio and cater to different consumer segments. Bajaj is committed to investing in the EV sector and developing a range of products that meet the diverse needs of Indian consumers. The company is also working on expanding its retail network to ensure that its products are easily accessible to customers across the country.
The introduction of the new entry-level Chetak EV is a strategic move by Bajaj Auto to capitalize on the growing demand for electric vehicles in India. By offering a more affordable option, Bajaj aims to attract a wider range of consumers and further strengthen its position in the EV market.
Chetak’s Dominance In The EV Market
Market Share Surge
Bajaj Auto has seen a significant jump in the electric vehicle market. The Chetak brand has really taken off. According to Rakesh Sharma, Executive Director at Bajaj Auto, the market share grew from 13% in Q4 FY24 to 25% in Q4 FY25. That’s a 12-percentage-point increase! It’s great to see traditional automakers like TVS Motor and Bajaj Auto making such big moves in the EV space.
Top-Selling Electric Two-Wheeler
That surge in market share has propelled Chetak to the top spot. It’s now the number one electric scooter brand in India. This is a big deal, showing that Bajaj’s strategy is working. They’re not just making EVs; they’re making EVs that people want to buy. The company now operates 310 Chetak experience centers and over 3000 points of sale (POS) nationwide. These efforts are part of a broader strategy to address emerging market sub-segments in FY26 and sustain leadership in the EV space.
Sustaining Leadership
To keep its lead, Bajaj is focusing on a few key areas:
- Expanding the Chetak lineup with new models like the upcoming entry-level EV.
- Scaling up its retail network to improve customer accessibility.
- Managing costs effectively to offer competitive pricing.
Bajaj’s electric vehicle business has greatly benefited from falling input costs and government-backed production-linked incentive (PLI) schemes. These factors have enabled the company to offer competitively priced products while remaining profitable.
With these strategies, Bajaj aims to maintain its profitable growth and sustain its leadership in the EV market.
New Chetak Variants To Broaden Market Reach
Bajaj Auto is strategically expanding its Chetak lineup to capture a larger share of the electric vehicle market. The company plans to introduce new variants aimed at different consumer segments, building on the success of existing models. This move is designed to solidify Bajaj’s position and cater to a wider range of customer preferences.
Upgrade To Chetak 2903
Following the launch of the Chetak 3503, Bajaj is set to introduce an upgraded version of the Chetak 2903 in June. This refresh aims to enhance the entry-level offering, potentially including improvements to storage capacity and other features. The current Chetak 29 series is already a popular choice, and the updated model is expected to further boost its appeal.
Chetak 35 Series Expansion
The Chetak 35 Series, which debuted in December 2024, is a key platform for Bajaj’s EV strategy. With the introduction of the 3503 variant in May, Bajaj is demonstrating its commitment to expanding this series. These models are designed to offer a balance of performance and features, catering to a broad spectrum of riders. The 35 Series is expected to see further additions in FY26, broadening its reach even more.
Catering To Emerging Sub-Segments
Bajaj aims to address emerging sub-segments within the EV market by introducing additional variants in FY26. This strategic move involves identifying specific customer needs and developing models that cater to those requirements. By offering a diverse range of options, Bajaj hopes to attract a wider customer base and sustain its leadership in the EV space.
Bajaj’s strategy involves not only expanding its product lineup but also scaling up its retail infrastructure. The company now operates a significant number of experience centers and sales points across India, ensuring that customers have easy access to its products and services.
Current Chetak EV Lineup And Pricing
Four Variants Available
Currently, if you’re looking at getting a Chetak, you’ve got a few choices. Bajaj offers four distinct models to suit different needs and budgets. It’s pretty cool how they’ve managed to cover a range from basic to pretty well-equipped.
Entry-Level To Top-End Models
The lineup includes the base Chetak 2903, which is the most affordable option. Then there are the Chetak 3503 and 3502 models, sitting in the middle of the range. At the top end, you’ve got the Chetak 3501, which comes with all the bells and whistles. The Chetak 3503 is a solid choice for many.
Meeting Diverse User Needs
- The Chetak 2903 is great for those just getting into EVs and wanting something simple and cost-effective.
- The 3503 and 3502 offer a balance of features and price, appealing to a broader audience.
- The 3501 is for those who want the best technology and features Bajaj has to offer in an electric scooter.
It’s worth checking out the specific features of each model to see which one best fits your needs. Things like range, charging time, and included tech can vary quite a bit between the variants.
Bajaj Expands Retail Network Across India
Increased Experience Centers
Bajaj Auto is seriously upping its game when it comes to getting their electric scooters out there. They’ve been busy setting up a bunch of Chetak experience centers all over the country. These aren’t just your regular dealerships; they’re designed to give potential buyers a real feel for the Chetak and what it’s all about. It’s like stepping into a mini-EV world, where you can check out the scooters, ask questions, and maybe even take one for a spin.
Nationwide Sales Points
It’s not just about the fancy experience centers, though. Bajaj is also making sure you can find a Chetak pretty much anywhere you go. They’ve got a huge network of sales points spread across the country, so whether you’re in a big city or a smaller town, you should be able to find Chetak electric scooters without too much trouble.
Enhanced Customer Accessibility
The goal here is simple: make it as easy as possible for people to buy a Chetak. By having more locations and better-equipped showrooms, Bajaj is hoping to reach a wider audience and make the whole buying process smoother and more convenient. This is a big deal for anyone who’s been thinking about switching to electric but hasn’t quite made the leap yet.
Here’s a quick rundown of what Bajaj is doing to boost customer accessibility:
- More experience centers for a better test ride and buying experience.
- A wider network of sales points across India.
- Improved service and support at all locations.
Record-Breaking Revenue Driven By EV Growth
Highest-Ever Domestic Revenue
Bajaj Auto really knocked it out of the park this past year! The company’s domestic business hit an all-time high in revenue for FY25, showing a solid 12% jump compared to the year before. This growth was fueled by strong sales in both the two-wheeler and three-wheeler categories, which is pretty awesome. It’s great to see them doing so well across different vehicle types.
Significant EV Contribution
Electric vehicles are really making a difference for Bajaj. EV sales contributed over ₹5,500 crore to their revenue, which is almost 20% of their domestic sales. That’s a huge chunk! It really shows how much of a stronghold Bajaj has in the EV market. They’re not just dabbling in EVs; they’re seriously making waves. This is a testament to their Chetak electric scooter and its growing popularity.
Profitable Growth In FY26
Bajaj Auto is aiming for even more profitable growth in FY26. With the expansion of their retail network and the increasing demand for EVs, they’re in a good position to keep growing. It’ll be interesting to see how they navigate the challenges in the supply chain, but overall, things are looking pretty bright for them. They’re definitely setting themselves up for continued success.
It’s worth noting that CFO Dinesh Thapar mentioned that cost optimization and government incentives, like the Production-Linked Incentive (PLI) scheme, have really helped their EV business. These factors have allowed them to offer competitive prices while still making a profit, which is a win-win situation.
Addressing Supply Chain Challenges
Rare Earth Magnet Concerns
One of the biggest headaches for Bajaj, and really the whole EV industry, is getting enough rare earth magnets. These magnets are super important for making electric motors work, and right now, a lot of them come from China. It’s not just about finding suppliers; it’s about navigating a whole bunch of red tape.
Potential Production Impacts
If these supply chain issues don’t get sorted out soon, there could be some serious problems. Bajaj might have to slow down production if they can’t get enough magnets. It’s a bit of a domino effect – no magnets, no motors; no motors, fewer scooters rolling off the assembly line. And that’s not good for anyone, especially with the Chetak’s popularity on the rise. The EV battery supply chain is fragile.
Mitigation Strategies
Bajaj is trying to figure out ways to deal with this. Here are some things they’re looking at:
- Finding new suppliers from different countries.
- Working with the government to speed up the import approval process.
- Exploring alternative motor designs that don’t rely so heavily on rare earth magnets.
It’s a tricky situation, but Bajaj seems determined to find a solution. They know that keeping the Chetak production line running smoothly is key to staying competitive in the rapidly growing EV market.
Wrapping Things Up
So, Bajaj Auto is really pushing hard with its Chetak electric scooters. They’re bringing out this new, cheaper model in June, which makes sense given how well the Chetak has been doing. It’s pretty cool how they’ve gone from a small market share to being number one in India for electric two-wheelers. They’ve also opened a ton of new stores, which should help people get their hands on these scooters. The only real worry is those rare earth magnets, but hopefully, they figure that out. It looks like Bajaj is set to keep leading the way in the electric scooter world for a while.
Frequently Asked Questions
When is Bajaj Auto launching its new entry-level Chetak EV?
Bajaj Auto plans to launch a new, more affordable Chetak electric scooter by the end of June. This new model is meant to attract more buyers to the Chetak family.
What kind of new Chetak EV is being launched?
The new Chetak EV will be an improved version of the current Chetak 2903. It’s designed to be more budget-friendly while still offering good features.
How well is the Chetak performing in the EV market?
Bajaj Chetak has become the top-selling electric two-wheeler in India. Its market share jumped from 13% to 25% in just one year, showing how popular it has become.
How is Bajaj Auto making Chetaks more available to customers?
Bajaj Auto has greatly expanded its sales network. They now have 310 special Chetak stores and over 3,000 places across India where you can buy their vehicles. This makes it easier for customers to find and buy Chetaks.
Did Bajaj Auto have a successful year financially because of EVs?
Yes, Bajaj Auto had its best year ever for sales in India, with a 12% increase. Electric vehicles, like the Chetak, played a big part in this success, making up almost 20% of their total domestic sales.
Are there any challenges Bajaj Auto is facing with EV production?
Bajaj is worried about getting enough rare earth magnets, which are important parts for EV motors. There might be a shortage by July 2025, which could affect how many electric scooters they can make.
