Bajaj Auto’s electric scooter, Chetak, emerged as the country’s top-selling electric scooter in December, capturing a market share of 28%, according to Vahan registration data. This marks a significant leap for Bajaj Auto, as it surpassed Ola Electric, which recorded an 18.3% market share during the same period.
BAJAJ AUTO GAINED MARKET SHARE FROM OLA ELECTRIC https://t.co/VmNcbFfPGE
— RedboxGlobal India (@REDBOXINDIA) December 13, 2024
In a bold statement at the CNBC-TV18 India Business Leader Awards 2024, Bajaj Auto’s Managing Director Rajiv Bajaj celebrated the achievement, saying, “Ola toh Ola hai, Chetak to shola hai.” The remark highlighted Chetak’s rise to the top, dethroning competitors in the highly competitive EV market.
The milestone coincided with Bajaj Auto being honored as the Outstanding Company of the Year at the event. Bajaj shared that the news of Chetak’s performance was conveyed to him by his son, Rishabh Bajaj, who has been part of the Electric Chetak team for the past 2.5 years.
“This award couldn’t be better timed,” Rajiv Bajaj remarked, adding that Chetak’s success reflects Bajaj Auto’s strong position in the EV segment.
The December Vahan data underscores Bajaj Auto’s strategic push into the EV space, positioning Chetak as a major contender against rivals like Ola Electric. With a market share of 28%, Chetak has set a new benchmark in the electric two-wheeler industry, solidifying Bajaj Auto’s leadership in the segment.
