The electric vehicle paradigm in India is finding new heights every new quarter. Although there was a slowdown in the middle of 2024, the progression has been promising to many observers. Within the EV world, the electric scooter segment is crucial, given its attractive credentials, in a price-sensitive yet ambitious Indian market.
Ola Vs Bajaj
In this, the indigenous brands have gathered steam with their products. Two of the biggest name in the sector are Bajaj and Ola. Here, Ola is a maverick, as it is the result of the expansion of the startup into a major tech corporation. On the other hand, Bajaj is a traditional giant, especially in the two-wheeler space.
OLA CEO Bhavesh Aggarwal | Photo: Twitter Image
As of now, Bajaj appears to have the upper hand. At least, that is what company chief Rajiv Bajaj claimed, when he was speaking at a public event.
While speaking at a CNBC TV18 event, Bajaj lauded the growth of the company’s Chetak electric scooter. This is the electric avatar of a once iconic brand of the two-wheeler maker.
Chetak Toh Shola
He said, that Chetak is now the largest-selling electric scooter—not third largest—in the country.
He went onto taunt his competitors and market leader Ola, and said,”Ola Toh Ola Hai, But Chetak To Shola hai”
He further went on to add that he wants to work with those who love to win or those, who hate to lose, and he works 10,000 of those.
Many bigwigs of India Inc, including Mukesh Ambani was present at the event.
EV Scooter Market
The EV scooter is currently marked by the dominance of three companies, namely Ola Electric, TVS Motors, and Bajaj Auto, who collectively hold over 70 per cent of this market.
The Bhavish Aggarwal-led company that also owns Ola Cabs and AI service Krutrim leads the pack with 24.5 per cent. Ola is followed by TVS with 23.55 per cent. In at third place is Ola Electic with 22.59 per cent. The aforementioned Chetak has aided the company’s prospects.
