
Bajaj to launch a new budget-friendly Chetak EV variant by June 2025
Bajaj Auto is preparing to launch a new, more affordable variant of its Chetak electric scooter by the end of June, aiming to strengthen its foothold in India’s fast-growing electric two-wheeler market. The upcoming model, positioned as an upgrade to the popular Chetak 2903, is expected to broaden the brand’s appeal in the entry-level EV segment.
This new addition to the Chetak family will follow the recent release of the Chetak 3503 in May, which marked the third variant in the company’s 35 Series platform that began rolling out in December 2024. Bajaj Auto’s Executive Director, Rakesh Sharma, highlighted the growing dominance of the Chetak brand, citing its rise to the top of India’s electric two-wheeler market in Q4 2024.
The upcoming variant, which belongs to Bajaj’s new “29 Series,” aims to capitalise on the strong sales performance of the 2903. While the launch is scheduled for June, there is a note of caution due to potential disruptions in the supply of rare earth magnets—critical components for EV motors—which Bajaj says may run low by July 2025.
To support the expanding Chetak portfolio, Bajaj has significantly scaled up its retail network. The company now operates 310 Chetak experience centres and over 3000 points of sale (POS) nationwide. These efforts are part of a broader strategy to address emerging market sub-segments in FY26 and sustain leadership in the EV space.
Chief Financial Officer Dinesh Thapar pointed out that Bajaj’s electric vehicle business has greatly benefited from falling input costs and government-backed production-linked incentive (PLI) schemes. These factors have enabled the company to offer competitively priced products while remaining profitable.
As affordability becomes a key driver in the EV market, Bajaj Auto’s focused expansion and innovation within the Chetak brand could position it strongly against increasing competition from both domestic and international players.
