Bajaj Auto is set to expand its popular Chetak electric scooter lineup with a more affordable variant of the Chetak 2903, expected to launch by the end of June 2025. This move comes as Bajaj aims to strengthen its dominance in India’s rapidly growing electric two-wheeler market, where the Chetak brand has already claimed the top spot in Q4 FY25 with a 29% market share.
The upcoming variant, an upgrade to the existing Chetak 2903, is anticipated to be priced under Rs 1 lakh (ex-showroom), making it the most budget-friendly option in Bajaj’s electric scooter portfolio. This positions it as a direct competitor to models like the Ola S1 X+, Ather Rizta S, and TVS iQube 3.4. By introducing a more accessible price point, Bajaj aims to capture a broader customer base, particularly in urban areas where affordability and practicality are key considerations for daily commuters.
Rakesh Sharma, Executive Director of Bajaj Auto, emphasized the company’s focus on expanding its market reach: “With the introduction of the third 35 Series variant, the 3503, at the end of May 2025, and an upgraded entry-level 2903 in June, the Chetak portfolio will become more robust.” Additional variants are also planned for FY26 to tap into emerging sub-segments, including potential models tailored for delivery executives.
While exact details of the new Chetak 2903 variant remain undisclosed, industry speculation suggests it will be built on the same chassis as the Chetak 35 Series, which was launched in December 2024. To achieve a lower price point, Bajaj is likely to simplify the feature set, potentially equipping the scooter with steel rim wheels, drum brakes, and a basic LCD instrument panel with Bluetooth connectivity but without advanced features like turn-by-turn navigation or sequential turn indicators. The battery is expected to be smaller than the 3.5 kWh unit found in the 35 Series, offering a reduced range of around 100 km per charge, suitable for city commuting.
The new variant is likely to retain the Chetak’s signature retro-modern design, featuring an all-metal, IP67-rated body for durability, LED lighting, and a hub-mounted motor for cost efficiency. Spy images indicate design tweaks such as a single-pod LED taillight and oval-shaped wing mirrors to maintain a premium aesthetic while keeping costs down.
The Chetak’s success in the electric scooter market is driven by Bajaj’s extensive network of over 3,800 sales and service outlets across India, with a particularly strong presence in Maharashtra, where it holds a 50% market share in the e-scooter segment. In March 2025 alone, Bajaj sold 34,863 Chetak units, averaging over 1,124 scooters daily, cementing its position as India’s top-selling electric scooter. The company’s investment of Rs 300 crore in electric vehicle infrastructure has also boosted production capacity, with plans to scale up from 40,000 to 60,000 units per month to meet rising demand.
The Chetak 35 Series, introduced in December 2024, set a high benchmark with features like a 5-inch TFT touchscreen, 35 liters of under-seat storage, and a 153 km range. The new 2903 variant aims to make the Chetak brand more accessible without compromising its reputation for reliability and quality.
While the launch of the affordable Chetak variant is poised to drive further growth, Bajaj has noted potential challenges, including a possible shortage of rare earth magnets—critical components for EV motors—by July 2025. Despite this, the company’s focus on cost optimization, with a reported 45% reduction in production costs for the Chetak 35 Series, positions it well to offer competitive pricing.
Bajaj’s broader strategy includes expanding the Chetak lineup into international markets within the next six months, signaling confidence in the brand’s global appeal. With the new 2903 variant, Bajaj is not only reinforcing its domestic leadership but also setting the stage for future growth in the electric mobility sector.
