Top Mutual Funds
- 23 Dec 2024
- ICICI Securities
-
Share
-
-
-
-
-
BAJAJ AUTO LAUNCHES THE ALL-NEW CHETAK 35 SERIES
News: Bajaj Auto has officially launched the Chetak 35 series, an upgraded version of its classic electric scooter, in India on December 20. This new series consists of three models: Chetak 3501, 3502, and 3503. While maintaining the iconic look of the original Chetak, the updated models feature significant enhancements, including a 3.5 kWh battery mounted under the floorboard, which allows for increased storage space and improved ride comfort. The Chetak 3501 is priced at ₹1.27 lakh and the 3502 at ₹1.2 lakh (ex-showroom). A standout feature of the Chetak is its impressive range of 153 km on a single charge, with quick charging capabilities that allow it to reach 80% in just three hours. Additionally, the scooter boasts a robust metal body, a spacious 35 litres of boot space, and advanced features such as a smart touchscreen console, document storage, music playback, and geofencing technology for enhanced tracking. Bookings are open online and at Bajaj dealerships, with deliveries for the 3501-model starting in late December 2024 and for the 3502 in January 2025, accompanied by a warranty of three years or 50,000 km.
Views: Bajaj Auto has emerged as the market leader in the electric two-wheeler space, overtaking Ola Electric for the month of December 2024, as per the VAHAN database. The shift in market dynamics has been striking since the beginning of FY25. Ola Electric, which commanded a market share of 52% in April, now holds just 18%. During the same period, Bajaj Auto’s Chetak has surged from 12% to 28%, while TVS Electric’s market share has grown from 12% to 22%. Also, Chetak is set to make its international debut by the first quarter of the next financial year, five years after its initial launch. With increase in EV penetration in scooter segment and other variants being under development, this is overall positive launch from Bajaj auto.
Impact: Positive