Bajaj Auto CEO takes dig at Ola Electrical as EV rankings shift – India TV
Bajaj Auto CEO Rajiv Bajaj took a lightweight jibe at rival Ola Electrical throughout an award perform. Describing the Bajaj Chetak because the best-selling electrical scooter in India, Bajaj stated, “Ola toh Ola hai, Chetak toh shola hai.” The information comes as Bajaj Auto is celebrating over 3 lakh Chetak items bought up to now and gearing as much as launch the brand new mannequin on December 20.
Chetak’s rise within the EV market
Rajeev Bajaj shared that, based mostly on the newest VAHAN registration knowledge, Chetak EV now holds the highest place within the electrical scooter section. “My son Rishabh, who has been part of the Chetak EV staff for the final 2.5 years, knowledgeable me that Chetak has gone from being the third best-selling electrical scooter within the nation,” Bajaj famous on the awards occasion, the place Bajaj Auto additionally received the “Excellent Firm of the 12 months” award.
Ola Electrical holds the market share management
Regardless of the overwhelming success of Bajaj Chetak, Ola Electrical maintained its place because the market chief in electrical two-wheelers in November. In response to VAHAN registration knowledge, Ola recorded 27,746 registrations, giving it a market share of 25.09 per cent. Shut behind TVS with 26,036 registrations (23.55 per cent market share), Bajaj Auto registered 24,978 items for a market share of twenty-two.59 per cent.
Ola’s gross sales dip however dominance stays
Though Ola Electrical led the market, its retail gross sales fell 30 per cent month-on-month and a couple of per cent year-over-year in November. TVS and Bajaj Auto are slowly narrowing the hole, creating stiff competitors within the EV market.
Chetak’s new launch and future prospects
With a brand new Chetak mannequin set to debut on December 20, Bajaj Auto is poised to strengthen its foothold within the electrical two-wheeler market. The corporate’s rising success indicators an intensifying rivalry between main EV producers as they compete for dominance in India’s quickly increasing electrical car sector.
Inventory market replace
Ola Electrical Mobility Ltd.’s shares closed 2.69 per cent decrease on Friday, at Rs 95.85, in comparison with Rs 98.50 from the earlier market session. In the meantime, Bajaj Auto continues to deal with leveraging its legacy and innovation to seize a bigger share of the EV market.
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