The new Chetak electric scooter will be the most affordable one till date with prices expected around Rs 75,000-80,000 in the Indian market.
Bajaj Auto has also joined the bandwagon of EV brands who are readying an affordable entry-level electric scooter for the Indian market. It has been learnt that the Pune-based two-wheeler brand will introduce a new budget-friendly variant of the 2903 e-scooter by the end of June 2025 in the domestic market. TVS and Hero are the two other brands which are stepping into the low cost electric scooter segment with Jupiter EV and Vida VX2, respectively, in India. Bajaj Chetak 2903 is priced at Rs 98,498 (ex-showroom) and we can expect the new Chetak 2903 variant to cost around Rs 75,000-80,000 (ex-showroom).
“With the introduction of the third 35 Series variant, the 3503, at the end of May 2025, as well as the impending launch of a new variant in June — an upgrade to the entry-level and high-selling 2903 — the Chetak portfolio will become very potent. Further expansion of this portfolio is envisaged in FY26 to address emerging sub-segments,” Sharma said.
On the contrary, Bajaj recently made a statement in the media claiming that rare earth magnet supplies could run out by July 2025. If it turns out to be true, the launch of the new Chetak affordable variant could be significantly delayed. We are yet to hear from the brand about the official launch date.
Bajaj Chetak EV topped the sales charts in the electric scooter for the months of Feb and Mar, before TVS iQube took over the reins in Apr 2025. The market share of the e-scooter also witnessed a substantial rise in Q4 with the new 35 series, which debuted in Dec 2024, contributing upto a huge extent in this success story. It has been selling 18,000+ units of the Chetak on an average each month. Though, March 2025 was the best-ever month with sales numbers at an all-time high of 34,863 units.
The company is also planning to open new Chetak experience centres and showrooms to widen the customer reach. Currently, it has 310 Chetak experience centres and more than 3000 dealer outlets across the country. Ahead of the launch of the new affordable Chetak EV, Bajaj is reportedly working aggressively on expansion in tier 2 and tier 3 cities.
Dinesh Thapar, CFO, Bajaj Auto, recently revealed that the brand has gained massively from the cost reductions and production-linked incentive (PLI) schemes, introduced by the Union Government of India. It has helped Bajaj to stay competitive in the electric scooter segment which has top players like Ola Electric, TVS and Hero MotoCorp.
