Bajaj Auto is looking to sell its Chetak e-scooter from 75 locations in FY23

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Witnessing strong demand for its Chetak electric scooter, Bajaj Auto plans to expand the model’s sales infrastructure to 75 locations across the country in the current fiscal year.

The Pune-based firm brought back its iconic Chetak scooter as an electric avatar in October 2019.

“Seeing the enthusiastic demand for this iconic model, the company increased touchpoints to 20 locations in fiscal 2022. This number is expected to increase to 75 in fiscal 2023,” the company said in its statement. annual report for 2021-22.

Initially, Chetak was only sold in two places, Pune and Bengaluru. The company noted that when reservations for the model first rolled out in early 2020, they had to be halted due to COVID.

“When we restarted online reservations on April 13, 2021, we had to stop 48 hours later, due to overwhelming demand,” he noted.

In the last fiscal year, the company said it sold 8,187 units of the electric scooter.

“We are committed to the development of electric vehicles (EVs). Chetak is the prime example. The establishment of Chetak Technology Ltd as a wholly owned subsidiary of Bajaj Auto will contribute to the research, development, production and the sale of electric vehicles. the company said.

These are the vehicles of tomorrow and we want to be an active player in this space, informed the shareholders of Bajaj Auto.

Elaborating on the chip shortage issue, Bajaj Auto Chairman Niraj Bajaj said the issue is expected to impact the company’s production volume.

“There is no doubt in my mind and in yours that Bajaj Auto has a full range of profitable two and three wheel vehicles that can significantly increase domestic and international market share and drive sales, revenue and higher profits.

“However, in all my years as a trustee of your company, I have never seen it face such a global supply constraint as in terms of semiconductor scarcity,” he said. he declares.

No modern automobile can exist without a multitude of semiconductor chips. Motorcycles and high-end electric vehicles like the Chetak are no exception, Bajaj said.

“It’s hard to predict when this supply shortage will end. But until then, it will limit your company’s production volumes, as it will for all other automakers,” Bajaj said.

All advanced technology components such as ABS system, FI systems, advanced displays such as thin film transistors (TFTs), telematics and critical sensors were affected due to chip shortages, the company said. .

R&D is working hard to create alternative configurations and homologate them as soon as possible, he added.

Bajaj Auto also informed shareholders that domestic motorcycle sales declined after two years of impressive growth in fiscal 2018 and 2019.

“Between fiscal 2019 and fiscal 2022, domestic motorcycle sales for the industry as a whole fell nearly 34% in terms of volume. In this environment, Bajaj Auto was able to arrest its sales decline and increase its market share from 18 percent in fiscal 2021 to 18.2 percent in fiscal 2022,” he noted.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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