Electric Scooter Wars: Rajiv Bajaj Trolls Ola
Electric Scooter Wars: Bajaj MD Rajiv Bajaj Trolls Ola with Bold Claim
Electric two-wheeler market share in India is becoming more and more competitive. Recently, the MD of Bajaj Auto, Rajiv Bajaj, made a rather comedic dig at Ola Electric. At a CNBC event, Bajaj remarked, “Ola to Ola hai, Chetak to Shola hai” (Ola is just Ola, Chetak is a fire). This statement came as Bajaj celebrated the Chetak becoming India’s top-selling electric scooter, based on December VAHAN registration data.
Bajaj Chetak: The New Market Leader
A Bajaj Auto electric scooter – the Chetak – has emerged as the company’s iconic product. The VAHAN registration details shared in December showed that Chetak has become the bestselling electric scooter in the markets of India. Rajiv Bajaj had this to say on this achievement with such pride before he acknowledged the effort of his team.
The Chetak has given a combination of strength fashion and class as well that has helped in gaining the confidence of the Indians. Bajaj’s emphasis on quality and durability seems to have borne fruit for the company in recent months outcompeting rivals like Ola and TVS.
Ola Electric’s Declining Market Share
Ola Electric, which was once a market leader in the electric two-wheeler segment, gradually lost market share. From June, Ola was controlling 49% of the market but by November it had dropped to 24.5 %. Meanwhile, Bajaj and TVS have gained ground, with market shares of 22% and 23%, respectively.
Ola’s ambitious plans to “end the ICE age” by replacing internal combustion engine vehicles with electric offerings have faced challenges. Despite its strong start, the decline in numbers signals growing competition and shifting consumer preferences.
History: Rajiv Bajaj Trolls Ola
Recall that this is not the first time Rajiv Bajaj made a sarcastic comment about Ola. Late in 2021, he proclaimed that Bajaj would “swallow companies like Olacabs for breakfast”. Calling such ventures Ola, Ather, and others as OATS, he indirectly pointed towards Bajaj’s monopoly in the electric scooter segment.
But Ola has not taken a defensive stance on counterattacks and has been swift in responding to Uber’s tactics. The firm directly challenged Bajaj’s gasoline-fueled automobiles and said it would offer electric mobility solutions to make them obsolete. This constant state of bluster only serves to make the rivalry a little more theatrical in the electric two-wheeler segment.
The Future of Electric Two-Wheelers in India
Ola Bajaj contest shows the pace at which India is progressing in the electric vehicle market. As the public demands for more sustainable transportation, the firms experience forces that require them to produce better quality vehicles.
Ola’s principal existing competitor in the electric scooter market is Bajaj’s Chetak which has already accumulated a positive brand image and has been observing increasing sales in the market. Rajiv Bajaj Trolls Ola. Ola, on the other hand, requires generating momentum to establish its market dominance. The next few months will show whether Bajaj remained dominant or if Ola will regain its position.
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