Rajiv Bajaj lit up the EV market with a swipe at Ola Electric. The Bajaj Auto boss said, “Ola toh Ola hai, Chetak to shola hai,” claiming victory for the company’s electric scooter, Chetak, which surged past competitors to become the country’s top-selling electric scooter, according to December’s VAHAN registration data.
The remark came at the CNBC-TV18 India Business Leader Awards 2024, where Bajaj Auto was honored as the Outstanding Company of the Year. Bajaj, reveling in the moment, revealed the milestone was shared with him earlier that day by his son Rishabh, who has been part of the Electric Chetak team for the past 2.5 years. “This award couldn’t be better timed,” he said.
Speaking at the CNBC-TV18 India Business Leader Awards 2024, where Bajaj Auto was named Outstanding Company of the Year, Bajaj revealed the milestone. “Our electric scooter Chetak is now the largest selling electric scooter—not third largest—in the country,” he said. The news, shared with him by his son Rishabh, a member of the Electric Chetak team, added significance to the accolade.
While Ola Electric maintained a market share of 24.5% in November, its sales fell 30% month-on-month and 2% year-on-year. TVS Motors followed at 23.55%, with Bajaj Auto close behind at 22.59%. However, December saw Chetak surge ahead, shifting the competitive landscape.
Bajaj backed his company’s performance with a nod to Ralph Nader, saying, “I want the guys who love to win. If I can’t have them, I want the guys who hate to lose. I am so fortunate I have 10,000 guys who either love to win or hate to lose.”
As Bajaj Auto prepares for an upgraded version of the Electric Chetak and stronger exports in Q3, the battle for EV dominance is heating up.