Bajaj Chetak has secured the No.1 position by volume and value in the Indian electric vehicle 2-wheeler segment for the last quarter of 2024-2025 with a 29% market share.

This development marks the return of Bajaj Chetak as a legacy leader, which created and dominated the scooter market through the 70s, 80s, and 90s.

“Now, reinvented in its electric avatar, the Bajaj Chetak has once again earned the trust and confidence of customers, reclaiming the No.1 position in India’s electric scooter segment,” the company said in a statement.

Bajaj Chetak’s performance is driven by Bajaj Auto Ltd’s extensive network of over 3,800 sales and service stores, along with the success of its last two launches—the 29 Series and the 35 Series—which together contributed to over 2 lakh units sold in 2024.

“We are happy to reach this coveted milestone, Chetak has once again become a customer favourite, from ICE to its Electric avatar... This is a result of our curated strategy of differentiated offerings, focus on customer experience and service network,” said Eric Vas, President, Urbanite Business Unit, Bajaj Auto.

The Pune-based automaker sold 34,907 electric scooters in March, cornering 27% market share during the month. TVS Motor Company stood second with sales of 30,477 e-scooters and 23% market share. Bhavish Aggarwal-led Ola Electric came in third with 18% share, according to FADA. IPO-bound Ather Energy sold 15,467 electric two-wheelers, accounting for 12% market share.

Bajaj Auto’s electric vehicle business – both three-wheelers and e-scooters put together -- delivered a marginal profit in the quarter ended December compared with a loss a year ago. This was aided by growth in electric three-wheelers and improving unit economics of the Chetak, which is yet not profitable. “The bleed (on Chetak) has come off compared to a year ago. The rise of electric three-wheelers is creating a profit pool which is absorbing the losses of the Chetak portfolio,” said Dinesh Thapar, chief financial officer, Bajaj Auto. “We have a line of sight on getting to unit economics of Chetak being profitable, subject to where market pricing of EVs will eventually be,” said Thapar.

Electric vehicle producers in India have been pricing their products competitively amid rising competition between legacy players and new-age automakers.