Bajaj Auto has announced the starting price for its highly anticipated Chetak electric scooter at ₹1.20 lakh (ex-showroom)
1 This arks the re-entry of the iconic Chetak brand, now in an electric avatar. The scooter will be available in two variants, with the top-end model priced slightly higher. Bajaj Auto aims to target the premium e-scooter segment with this launch, focusing on style, performance, and technology. The Chetak e-scooter boasts a modern design while retaining the classic Chetak silhouette. 2 It is equipped with a lithium-ion battery and offers a range suitable for daily commutes. 3 The company is initially launching the Chetak in select cities, gradually expanding its availability across India.
Key Insights:
- Focus: Bajaj Auto’s entry into the growing Indian electric vehicle (EV) market with a premium offering.
- Key Event: Launch of the Chetak e-scooter with a competitive price point.
- Potential Impact:
- Increased competition in the e-scooter segment.
- Potential boost for Bajaj Auto’s market share and brand image.
- Positive sentiment towards the EV sector in India.
Investment Implications:
This news is potentially positive for Bajaj Auto investors. The competitive pricing and strong brand recognition of the Chetak could drive sales and contribute to the company’s revenue growth. However, the success of the Chetak will depend on factors like market demand, competition, and the company’s ability to scale production and distribution. Investors should monitor the following:
- Sales figures: Track the initial sales performance of the Chetak e-scooter.
- Market share: Observe how the Chetak impacts Bajaj Auto’s overall market share in the two-wheeler segment.
- Competition: Monitor the strategies of competitors in the EV space, such as Ola Electric, Ather Energy, and TVS Motor.
