Just like many other high-end electric two-wheelers, the Bajaj Chetak has become more expensive due to changes in government subsidies. Until last month, the Chetak started at a price of Rs 1.22 lakh, but now it costs Rs 1.44 lakh (excluding state subsidies) because of the new FAME-II subsidy rules. This increase is around Rs 22,000.
The government reduced the incentives for electric two-wheelers under the FAME-II scheme, which caused the Chetak’s FAME-II subsidy to drop from Rs 43,500 to Rs 22,500 starting from June 1. In May, the heavy industries ministry announced that they would limit incentives to 15% of an electric two-wheeler’s factory price and change the subsidy to Rs 10,000 per kWh of battery capacity. This led to higher prices for almost all electric scooters and motorcycles in the country.
In March, Bajaj had reduced the Chetak’s price, which had remained mostly the same since it was launched in 2020. They mentioned improvements in their electric vehicle supply chain and development programs with key vendors. The Chetak, which is now available only in the Premium variant, comes in four colors: gold, blue, red, and black.
The Chetak has a 2.88 kWh lithium-ion battery, a top speed of 63 kph, a real-world range of up to 90 kilometers, and it takes about four hours to charge to 100%. It also has features like a color LCD instrument cluster, Bluetooth connectivity, tamper alert, geo-fencing, and the ability to receive over-the-air updates.
After this price increase, the Chetak’s price is now very close to other premium electric scooters like the Other 450X, Ola S1 Pro, and Vida V1 Pro. In most places where state subsidies are not available, the on-road price for the Chetak is now above Rs 1.50 lakh. Before the price increase, Bajaj saw a record high in Chetak sales, with over 10,000 units of the e-scooter registered across the country in May, according to the latest registration data on the VAHAN portal.
The Bajaj Chetak, like many premium electric two-wheelers, has experienced a significant price increase due to reduced government subsidies under the FAME-II scheme. This price hike, resulting in a roughly Rs 22,000 rise, has brought the Chetak’s cost closer to other premium electric scooters. Despite the setback, the Chetak’s popularity has soared, with record sales in May. The shift in subsidies reflects the evolving landscape of electric mobility in India and highlights the challenges faced by manufacturers and consumers in the transitioning market.