How 2W market incumbents Bajaj and TVS are flexing their electric muscle

Bajaj and TVS appear to have picked up the gauntlet, taking on Ola in the sub-Rs 1 lakh e2W market - a segment they had kept away from and where Ola reigned supreme

This report has been updated

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Rakesh Sharma is elated. “The competition is now going to be tougher for our competitors,” says the executive director of Bajaj Auto, India’s fourth largest maker of two-wheelers.

It has been a rollercoaster ride for Sharma of late. Registrations of Chetak, once the dominant scooter brand that has been brought back in an electric avatar, surged to their highest in July, rising 96 per cent from the previous month.

In the process, Bajaj grabbed a 17 per cent share of the electric two-wheeler market (e2W) closing in on its traditional competitor TVS