Bajaj Auto is going to introduce a new variant of its Bajaj Chetak electric scooter next month. The new Chetak variant is expected to be an entry-level version and could be priced around Rs 1 lakh (ex-showroom), making it more affordable than the City variant. Rakesh Sharma, executive director of Bajaj Auto, confirmed the development while speaking to the media during the company’s latest earnings call.
Bajaj Auto is going to introduce a new variant of its Chetak electric scooter next month. Bajaj Chetak received a comprehensive update earlier this year, but it also saw a price hike.
Bajaj Chetak Price will be less than Rs 1 lakh
The new Chetak variant is expected to be an entry-level version and could be priced around Rs 1 lakh (ex-showroom), making it more affordable than the City variant. Bajaj Chetak is currently priced between ₹1.23 lakh, going up to ₹1.47 lakh (ex-showroom, Delhi).
What did the company say?
Bajaj Auto Executive Director Rakesh Sharma confirmed the development while speaking to the media during the company’s latest earnings call. Without giving too many details, Sharma revealed that the new offering will have more “mass appeal”. The new entry-level Chetak may come with a hub motor and a smaller battery pack to keep costs under control, which should help the manufacturer in pricing.
Prices increased after FAME subsidy ended
The recent rise in prices in the electric scooter segment has created a need for a more cost-effective version. Prices have increased everywhere due to the end of FAME subsidy and the implementation of a temporary EMPS incentive till July this year. That said, most manufacturers have resorted to modest price increases to discourage buyers.
They will get competition
Additionally, the more affordable Bajaj Chetak will be able to keep pace with its rivals including the TVS iQube, Ola S1X and the new Ather Rizta. The company is aggressively expanding its presence in the country with the sales and distribution of Chetak and the e-scooter is now available in 164 cities through 200 experiential centres.