More affordable Bajaj Chetak variant launch in May, priced around ₹1 lakh

Bajaj Auto is all set to bring a new variant to the Chetak electric scooter next month. The Bajaj Chetak received a comprehensive update earlier this year but prices saw an increment with the same as well. The new Chetak variant is expected to be an entry-level version and could be priced around ₹1 lakh (ex-showroom), placing it below the Urbane variant. The Bajaj Chetak is currently priced between ₹1.23 lakh, going up to ₹1.47 lakh (ex-showroom, Delhi).

Rakesh Sharma, Executive Director - Bajaj Auto, confirmed the development while speaking to the media during the company’s latest earnings call. Sharma revealed that the new offering will have more “mass appeal," without divulging too many details. The new entry-level Chetak could likely arrive with a hub motor and a smaller battery pack to keep costs in check, which help the manufacturer price the model more competitively.

The more affordable Chetak could use a hub motor and a smaller battery pack to keep the costs low

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The more affordable Chetak could use a hub motor and a smaller battery pack to keep the costs low

The need for a more cost-effective variant arises due to the recent hike in prices across the electric scooter segment. With the FAME subsidy pulled out and the temporary EMPS incentive in place till July this year, prices have gone up across the board. That said, most manufacturers have resorted to marginal price hikes to not deter buyers.

Moreover, the more affordable Bajaj Chetak will be able to keep up better with its rivals including the TVS iQube, Ola S1 X, and the new Ather Rizta. The company has been aggressively expanding its presence in the country with the sales and distribution of the Chetak and the e-scooter is now available in 164 cities via 200 experience centres. A lower entry-level price should help bring more customers to the brand’s showrooms.