Image Source : X/@_BAJAJ_AUTO_LTD Bajaj Auto CEO takes a dig at Ola Electric as EV rankings shift
Bajaj Auto CEO Rajiv Bajaj took a light jibe at rival Ola Electric during an award function. Describing the Bajaj Chetak as the best-selling electric scooter in India, Bajaj said, “Ola toh Ola hai, Chetak toh shola hai.” The news comes as Bajaj Auto is celebrating over 3 lakh Chetak units sold so far and gearing up to launch the new model on December 20.
Chetak’s rise in the EV market
Rajeev Bajaj shared that, based on the latest VAHAN registration data, Chetak EV now holds the top position in the electric scooter segment. “My son Rishabh, who has been a part of the Chetak EV team for the last 2.5 years, informed me that Chetak has gone from being the third best-selling electric scooter in the country,” Bajaj noted at the awards event, where Bajaj Auto also won the “Outstanding Company of the Year” award.
Ola Electric holds the market share leadership
Despite the overwhelming success of Bajaj Chetak, Ola Electric maintained its position as the market leader in electric two-wheelers in November. According to VAHAN registration data, Ola recorded 27,746 registrations, giving it a market share of 25.09 per cent. Close behind TVS with 26,036 registrations (23.55 per cent market share), Bajaj Auto registered 24,978 units for a market share of 22.59 per cent.
Ola’s sales dip but dominance remains
Although Ola Electric led the market, its retail sales fell 30 per cent month-on-month and 2 per cent year-over-year in November. TVS and Bajaj Auto are slowly narrowing the gap, creating stiff competition in the EV market.
Chetak’s new launch and future prospects
With a new Chetak model set to debut on December 20, Bajaj Auto is poised to strengthen its foothold in the electric two-wheeler market. The company’s growing success signals an intensifying rivalry between leading EV manufacturers as they compete for dominance in India’s rapidly expanding electric vehicle sector.
Stock market update
Ola Electric Mobility Ltd.’s shares closed 2.69 per cent lower on Friday, at Rs 95.85, compared to Rs 98.50 from the previous market session. Meanwhile, Bajaj Auto continues to focus on leveraging its legacy and innovation to capture a larger share of the EV market.
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