TVS and Bajaj are no strangers in the Indian two-wheeler market. In fact, they together have 25% of the Indian two-wheeler market share as of the end of 2020. Both the companies are leading ICE (internal combustion engine) players. Off late there electric scooters have seen a tremendous surge in demand.
According to the industry data, the TVS iQube’s sales have increased to 1486 units in the first four months of FY 2022 compared to 1,061 in FY 2021. On the other hand, Bajaj Chetak’s electric variant has sold 1,723 units up from last year’s 1,395. Both these models were launched in January 2020 and since then have seen a positive response from the buyers. As per experts with over 8 months left in this fiscal cycle, it is expected that both the companies are going to register record sales for their electric scooters.
Also Read – TVS iQube Electric Tyres – All You Need To Know
An interesting fact about these sales is that both Bajaj Auto and TVS sell their electric scooters in limited geographies. For example, Bajaj’s scooter is sold only in the major cities of Bengaluru, Pune and Nagpur. This scooter has three riding modes and has two variants: Urbane and Premium. The scooter is manufactured at Bajaj’s Chakan, Pune plant and has a range of 90km in Eco Mode. It can quickly charge in just 60 minutes to give you up to 25% battery power. The full charge takes about 5 hours.
TVS’ iQube offers a range of 75km at full charge. It also has regenerative braking. iQube’s battery is irremovable. TVS has loaded this scooter with a ‘next-gen TVS SmartXonnect platform’ that includes a TFT instrument cluster and the TVS iQube app. This means that the rider has access to features that include removing battery charge status, geo-fencing, navigation assist, last parking location and call alerts/SMS alerts.
It is learnt that the extreme rise in the prices of petrol, governmental subsidies to electric mobility and the buyers’ interest in green and clean energy vehicles would lead to robust growth for both Bajaj Auto and TVS in the long run.