New Bajaj Chetak Variant Launch Confirmed

Could be an affordable Chetak variant, likely to come at a price tag of under Rs 1 lakh

Bajaj is working on expanding their Chetak portfolio according to Rakesh Sharma, Executive Director of Bajaj Auto. In an interview he said that Bajaj is currently focusing on expanding the Chetak e-scooter portfolio to cover more and more segments. The brand is planning on launching a new product in the next couple of months. 

With the subsidies on EVs going away, we expect the upcoming product to be a new variant of the Chetak, one that is more affordable than what is currently offered in the Chetak lineup. The new variant could come at an ex-showroom price that is under the Rs 1 lakh mark and this trend is quite evident as players like Ather and Ola are also bringing their own affordable e-scooters to the market.

To keep costs in check, the upcoming Chetak variant could come with a less powerful motor and smaller battery pack. Features wise, Bajaj might decide to go with a monochrome LCD console and a simpler set of features to go with it. 

In the same interview Rakesh Sharma added that while the diminishing subsidies may hurt the EV market’s rate in the short run, it is beneficial in the long run, as only serious players and serious buyers will stick around in the market. The FAME 2 subsidy is being replaced by the Electric Mobility Promotion Scheme (EMPS) subsidy which will be available from April 1, 2024 to July 31, 2024. 

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The new variant of the Chetak is expected to be launched either in April or May. It will be priced just under Rs 1 lakh (ex-showroom including EMPS). The new Chetak will go up against other affordable e-scooters currently in the market like the TVS iQube, Ather 450S and the Ola S1 X. 

Lastly, Rakesh Sharma also added that the brand will be working on expanding their dealership network from the current 200 dealerships to over 500 in the coming three-odd months. Currently the Bajaj Chetak is the third best selling e-scooter in the market and with this expansion, Bajaj could have a greater chance of gaining a bigger market share in the future.

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