The Indian electric scooter market is on the rise, with established brands like TVS and Bajaj gaining popularity and outperforming newer startups like Ola Electric. Despite Ola Electric’s previous dominance in the sector, recent sales trends show a growing consumer preference for trusted brands over startups. In September 2024, TVS iQube and Bajaj Chetak registered a significant boost in sales, challenging the Ola S1 series across various price ranges and building confidence in established manufacturers over startups.
TVS iQube Sales Performance
The TVS iQube achieved remarkable success last month, positioning itself as the second-best-selling electric scooter in India. TVS iQube sold 28,529 units in September 2024, marking a year-over-year increase of over 40% and a monthly rise of around 18%. With strong performance, the TVS iQube is giving tough competition to Ola Electric’s scooters.
Bajaj Chetak’s 217% Sales Growth
Bajaj Chetak electric scooter, the flagship electric model from Bajaj Auto, recorded a massive sales increase in September 2024. The company sold 28,517 units, marking an impressive 217% year-on-year growth. With a rise in monthly sales as well, it’s evident that Indian consumers are favoring Bajaj’s established reputation in the electric scooter market.
TVS iQube: Price and Key Features
The TVS iQube electric scooter comes with an ex-showroom price ranging from ₹1.07 lakh to ₹1.37 lakh. It features battery options from 2.2 kWh to 3.4 kWh, offering a single-charge range of 75 to 100 kilometers. With a top speed of 75 km/h, the iQube is known for its sleek design and advanced features, making it an appealing choice for urban commuters.
Bajaj Chetak: Price and Key Features
The Bajaj Chetak electric scooter, priced between ₹99,998 and ₹1.56 lakh, is positioned as a premium offering. It comes with a 2.88 kWh to 3.2 kWh battery, offering a single-charge range of 123 kilometers and a top speed of 63 to 73 km/h. Known for its classic design and modern tech features, the Bajaj Chetak is winning consumers’ trust in the premium electric scooter segment.
With high sales and robust brand reputations, TVS and Bajaj are proving to be significant players in India’s electric two-wheeler market. Their strong performance indicates a shift in consumer preference toward established brands that offer quality, reliability, and advanced features in the growing electric mobility landscape.
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