Affordable models take Bajaj, TVS closer to Ola Electric in e2W market

Bajaj Auto and TVS Motor Company, after launching lower-priced electric scooter models over the past couple of months, have seized a combined 38.11 per cent market share of the e-two-wheeler segment, based on VAHAN registrations in the first 12 days of this month. This has intensified the competition with market leader Ola Electric, which now holds a 35.53 per cent market share.

In June, Bajaj Auto unveiled its Chetak 2901 at a starting price of Rs 95,998 (ex-showroom). TVS Motor Company, in May, had launched a new variant of the iQube with a 2.2 kWh battery at Rs 94,999.

Bhavish Aggarwal’s Ola Electric was the first to launch a range of models priced under Rs 1 lakh (ex-showroom) — a market segment where rivals Bajaj and TVS hadn't ventured until recently. Ola’s sub-Rs 1 lakh line-up includes the S1X (Rs 74,999), S1X+ (Rs 84,999), and the S1X with a 4 kWh battery (Rs 97,499). Ola Electric declined to comment on the latest numbers.