- 10 Jun 2024
- ICICI Securities
BAJAJ AUTO LAUNCHES AFFORDABLE ELECTRIC SCOOTER I.E. CHETAK 2901
BAJAJ-AUTO - 8262 Change: 120.50 (1.48 %)News: As per media sources, Bajaj Auto has launched a more affordable offering in the electric mobility space i.e. Chetak 2901. It is powered by 2.88 KwH battery offering a certified range of 123 kms, top speed of 63 km/hr with a price tag of ₹ 95,998/unit (ex-showroom Bangalore).
Views: Chetak 2901 (Battery: 2.88 KwH, range: 123 km, top speed: 63 km/hr) price is lucrative from the customer standpoint vs. Chetak existing offerings namely Chetak Urbane 2024 (2.9 KwH, 113km, 73km/hr; priced at ₹ 1.23 lakh/unit) and Chetak Premium 2024 (3.2 KwH, 126 km, 73 km/hr, ₹ 1.47 lakh/unit). It however is being offered in basic bold colours, takes longer to charge and provides an optionality for a tech upgrade at an additional cost (₹ 3,000). Bajaj Auto Chetak is a prominent player in the e-mobility space domestically, increased product offering will help it further consolidate its position in the market. On the valuation standpoint, however it trades ahead of its long period averages and we see less upsides in the stock going forward.
Impact: Neutral