Bajaj Chetak electric scooter has successfully completed four years in the Indian market. Initially, its sales had a slow start, being available only in Bengaluru and Pune. However, the company managed to sell 1,587 units between January 2020 and March 2021, and a total of 8,187 units in FY22. The sales surged to 31,485 units in the following year, marking a remarkable YoY growth of 284 percent. In FY2024 (April to December 23), the Chetak EV achieved its highest-ever sales of 75,999 units, reaching a cumulative sales figure of 1,17,208 units.
As of January 2024, the Chetak electric scooter has garnered over 11,000 bookings, with the company setting a target of achieving monthly sales of 15,000 units. Various factors, including substantial discounts, the introduction of new variants, and improved performance, have contributed to the increased sales. Bajaj Auto attributes its expanded distribution network for successfully addressing earlier supply chain challenges. According to data from the Society of Manufacturers of Electric Vehicles (SMEV), Bajaj Auto increased its market share from 5 percent in 2022-23 to 10 percent by the end of 2023.
In January 2024, Bajaj launched the updated Chetak Premium variant, priced at Rs 1.35 lakh (ex-showroom), making it Rs 15,000 more expensive than its predecessor. A significant change has been made to its battery, now featuring a new 3.2kWh pack that claims an ARAI-certified range of 127km. The battery can be fully charged in 4 hours and 30 minutes.
Bajaj Auto has confirmed plans for two to three updates for the Chetak electric scooter by May 2024. Additionally, the company is set to introduce its larger Pulsar in the first quarter of the next year. Furthermore, Bajaj is working on a new CNG bike expected to debut later this year, which is anticipated to share design elements with the Bajaj CT lineup.
