Bajaj Auto has seen an uptick in demand for its electric vehicle offering—Chetak. The bookings of electric Chetak have doubled from 3,000 units to 7,000 units a month.
The uptick in demand was reported after the company reduced the price of the vehicle from ₹1,40,000 to a starting price of ₹1,21,933. The electric vehicle is available in 60 cities in India.
In an interaction with businessline, Rakesh Sharma, Executive Director of Bajaj Auto, said, “We have been able to redefine our cost architecture and re-look at our vendors for the electric vehicle business. This allowed us to bring down the prices of Chetak.”
From March 01, the bookings for the vehicle have been doubled from 3,000 units and we once again have a waiting period, he added.
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Bajaj Auto will introduce a premium version of the electric Chetak in April and further expand the Chetak range.
“In April, we are introducing a top-of-the-line premium Chetak, which is an upgraded version, and towards the second half of the next financial year, we hope to expand the Chetak range,” said Rakesh Sharma.
To popularise Chetak, Bajaj Auto is planning to open exclusive showrooms across the country. These showrooms will be digitally enabled and will be designed by the company to address consumer concerns about electric vehicles.
“Our objective (with Chetak) is to build a sustainable business as there is a lot of uncertainty related to supply chains, the continuation of subsidy and the rate of adoption of in small towns,” said Sharma.
Bajaj Auto will introduce its first electric three-wheeler in limited cities in April.