A 79-year iconic scooter brand is taking an electric avatar - but it will not be called Bajaj
BajajAuto’s iconic scooter brand Chetak is making a grand comeback
- The e-scooter will be launched today.
- Chetak will be priced ‘very competitively’.
The company will be launching the e-scooter today and all eyes will be on Bajaj as it brings back the Chetak.
However, the e-scooter will also be missing the Bajaj logo as they are creating a niche brand. The scooter will initially be launched in Pune, and will be rolled out in Bengaluru, later.
Bajaj also said that the e-scooter Chetak will be priced ‘very competitively’.
The company’s move to electric comes in at a time when the auto sector is undergoing a slowdown. In September 2019, Bajaj saw a 20% drop in sales as compared to the same month the previous year.
In spite of the fact, the company’s market share grew to 18.3% in Q1FY20 from 16.3% in Q1FY19. In the sports segment, the company enjoys almost 50% of the market share.
Bajaj Auto’s profits for the first quarter of FY20 at ₹1126 crore in Q1FY20 which registered a flat growth from the same quarter last year. Its total revenue from operations grew 3.8% to ₹ 7,756 crore during the same quarter.