TVS iQube and Bajaj Chetak ride surging wave of EV demand in India : iQube Electric Launch

TVS iQube and Bajaj Chetak- The TVS iQube and Bajaj Chetak are riding the surging wave of electric vehicle (EV) demand in India. As the country moves towards a greener and more sustainable future, the demand for electric scooters has skyrocketed. Both the TVS iQube and Bajaj Chetak have emerged as popular choices among Indian consumers, offering a combination of style, performance, and eco-friendliness.

These electric scooters are not only cost-effective to run but also contribute to reducing air pollution and carbon emissions. With their sleek designs, advanced features, and impressive range, the TVS iQube and Bajaj Chetak are leading the way in India’s electric mobility revolution. As more people embrace EVs as a viable mode of transportation, these two models are poised to make a significant impact on India’s urban landscape.

TVS iQube and Bajaj Chetak

Recent years have seen a surge in the demand for electric vehicles (EVs) in India, and two popular models leading this charge are the TVS iQube and the Bajaj Chetak. These electric scooters have captured the attention of commuters across the country with their sleek designs, impressive performance, and eco-friendly features. The TVS iQube boasts a powerful motor and a range of up to 75 kilometers on a single charge, making it an ideal choice for urban riders. Similarly, the Bajaj Chetak offers a smooth and silent ride, along with advanced features like regenerative braking and smartphone connectivity. As more Indians embrace sustainable transportation options, the TVS iQube and Bajaj Chetak are poised to play a significant role in shaping the future of EV adoption in India.

TVS has been steadily growing the retail network for the iQube e-scooter since its introduction. Currently, the iQube is available in more than 140 cities and 310 touchpoints throughout India. The company aims to expand this network to nearly 600 touchpoints. Furthermore, TVS is focused on enhancing the charging convenience for iQube owners. Presently, these owners can utilize over 2,000 charging points from different partners via the TVS iQube mobile app.

TVS iQube and Bajaj Chetak Overviews

TVS iQube and Bajaj Chetak ride surging wave of EV demand

Bajaj Auto’s sales numbers could have been higher if the Chetak was available in more markets like its TVS rival. However, there are plans to expand the retail network. During an analysts’ call at the end of July, executive director Rakesh Sharma stated that the goal is to grow four-fold to 100 cities within the next two years. Currently, there are only 27 outlets for the Bajaj e-scooter.

The Chetak EV comes in two variants – Premium and Urbane – and is priced at Rs 151,958 (on-road Delhi). It takes 4 hours to fully charge, with a quick charge option of 25% in just 60 minutes. In Eco Mode, it has a range of 90km when fully charged. Manufactured at the Chakan plant, it offers three riding modes including a reverse mode.

TVS appears to have experienced positive outcomes from the introduction of the updated iQube in May 2022. The pricing for this electric scooter ranges from Rs 98,564 to Rs 108,690 (on-road Delhi), which includes the FAME and other state subsidies. The entry-level iQube and iQube S trims are priced accordingly. The new iQube is currently accessible in 33 cities and is planned to expand its availability to an additional 52 cities across India.

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TVS iQube and Bajaj Chetak ride surging wave of EV demand

The updated iQube maintains its LED lights and 12-inch wheels, while incorporating a range of connectivity features through the TFT instrument clusters available. The base model iQube is fitted with a 5-inch unit that supports turn-by-turn navigation, while the iQube S is equipped with a larger 7-inch TFT cluster that includes music controls and theme personalisation. On the other hand, the ST variant features a 7-inch touchscreen instrument cluster that is also capable of OTA updates and offers voice assistance.

Given the high petrol prices and the incentives provided by various Indian states to promote electric mobility, both the Bajaj Chetak and TVS iQube are expected to experience strong demand in the coming months. Although they face competition from Hero Electric and Okinawa Autotech, their advantages lie in their well-established brand image, reliable aftersales support, and an expanding market launch strategy.

Upon analyzing the Vahan retail sales data, it becomes apparent that within India’s highly competitive e-two-wheeler market, the top six out of the 161 OEMs have individually sold over 1,000 units. Furthermore, the leading two manufacturers, namely Ola Electric and TVS Motor Co, have each surpassed sales of 15,000 units. Collectively, these six top-selling companies account for 53,829 units or 84 percent of the overall industry sales in September. Consequently, the remaining 155 players have fiercely competed for the remaining 16 percent of the market share.

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Electric two-wheeler sales near pre FAME subsidy cut levels

With a market share of 29 percent, Ola Electric is currently the leader in the industry. In September, they managed to sell 18,664 units, which is comparable to their August sales of 18,725 units. Despite this flat growth, Ola Electric is expected to see a significant increase in sales soon. Their recently launched S1 series of e-scooters has already received over 75,000 bookings, and with the festive season gaining momentum from mid-October onwards, it is anticipated that Ola Electric will soon surpass the 20,000 units per month mark.

TVS Motor Co experienced a marginal increase of 1 percent in September compared to August 2024, with sales totaling 15,558 units. This marked a rise from the previous month’s sales of 14,473 units. Additionally, the company successfully expanded its market share by one percentage point, climbing from 19 percent in July to 24 percent in September. Throughout January to September 2024, TVS sold a total of 1,18,518 units, surpassing the noteworthy milestone of 1,00,000 units.

Ather Energy, a smart e-scooter manufacturer based in Bengaluru, has retained its position in third place with 6,835 units sold. This number remained the same compared to August 2024’s sales of 7,130 units. Ather Energy is actively working on providing easy financing options to potential buyers, joining other EV manufacturers in this effort. Additionally, TVS Motor has recently introduced the top-spec iQube ST variant, which boasts a range of 140km on a single charge. This is almost double the range offered by the previous model, which had a range of 75km.

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TVS Motors Enters Indian EV Market With iQube Electric Launch

TVS Motors, the Indian motorcycle giant, has decided to venture into the electric two-wheeler market by launching their first electric scooter called iQube Electric. Priced at INR 1.15 Lakh, this scooter comes with three lithium-ion battery packs that have a warranty of three years or 50 Km and a range of 75 Km per charge.

In addition, TVS Motor has provided a home charging unit for iQube Electric users to conveniently charge their vehicles at home. The scooter also features a regenerative braking system that maximizes charge during the ride.

Equipped with a 4.4 kW motor, the iQube Electric can reach a top speed of 78 Km per hour. TVS claims that this scooter is more cost-effective compared to traditional petrol scooters. Moreover, it offers various features such as geofencing for controlled rides, battery status alerts on smartphones, navigation assistance for finding the nearest charging points, and speeding checks.

Conclusion

In this conclusion, TVS iQube and Bajaj Chetak are riding the surging wave of electric vehicle (EV) demand in India, marking a significant shift towards sustainable transportation. As more consumers prioritize eco-friendly options, these electric scooters have gained popularity for their efficiency, low maintenance costs, and zero emissions. The TVS iQube offers a powerful performance and advanced features like smartphone connectivity, while the Bajaj Chetak boasts a classic design with modern technologies. With the government’s push for EV adoption through incentives and infrastructure development, it is clear that the future of transportation in India is electric. As these two models continue to make waves in the market, it is evident that they are contributing to a greener and cleaner future for the country.

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TVS iQube and Bajaj Chetak FAQ’S

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