Bajaj Auto Raced Ahead in Electric Two-Wheeler Segment, Leaves Ola Electric Behind

There has been a big change in the electric two-wheeler market in December. Bajaj Auto has achieved the highest share in this market, leaving behind Ola Electric. In December, Bajaj Auto’s share in the electric two-wheelers segment has increased to about 25 percent. This is an increase of about three percent compared to the previous month.

According to vehicle portal data, in December Ola Electric Retail sales have declined by about five percent to about 19 percent. TVS Motor retained its second position with around 23 percent share. Ola Electric had performed well at the beginning of the current financial year. However, after the reduction in subsidies given by the government, competition among companies regarding pricing has increased in this segment. There has been an increase in the sales of low priced variants of electric scooters from Bajaj Auto and TVS Motor.

Last month, Bajaj Auto introduced a new version of Chetak electric scooter. The company may soon launch a new brand for EV. Company’s Managing Director, Rajiv Bajaj had said that Bajaj Auto will launch new products in this segment in the next quarter. The company’s target is to increase its EV sales to about five lakh units in the next financial year. Bajaj Auto also plans to launch a new brand for EVs. In the last few months, Ola Electric has faced difficulties due to shortcomings in service. The company has taken some steps to deal with this.

Ola Electric has increased the number of its stores four times. The company has 4,000 stores. Service facilities will also be available at these stores. Apart from big cities, the company has also expanded its network in small cities and towns. Ola Electric has also announced the release of MoveOS 5 beta for its electric scooters. MoveOS has been provided as the operating system in the company’s S1 electric scooters. The same operating system will also be used in its electric motorcycles. Features like group navigation, live location sharing and road trip mode through Ola Maps have been made available with MoveOS 5.