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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 ₹95,998 (ex-showroom). TVS Motor Company, in May, had launched a new variant of the iQube with a 2.2 kWh battery at ₹94,999.
Bhavish Aggarwal's Ola Electric was the first to launch a range of models priced under 1 lakh (ex-showroom) a market segment where rivals Bajaj and TVS hadn't ventured until recently. Ola's sub-1 lakh lineup includes the S1X (₹74,999), S1X+ (84,999), and the SIX with a 4 kWh battery (97,499). Ola Electric declined to comment on the latest numbers.
This story is from the July 13, 2024 edition of Business Standard.
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This story is from the July 13, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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