“Ola toh Ola hai, Chetak shola hai,: CEO Takes a Jibe at Ola Electric
"Ola toh Ola hai, Chetak shola hai,: CEO Takes a Jibe at Ola Electric
“Ola toh Ola hai, Chetak shola hai,” says Rajiv Bajaj as Chetak overtakes Ola Electric to become India’s top-selling EV scooter.
Bajaj Auto’s CEO Rajiv Bajaj celebrated a major milestone for the company at the CNBC-TV18 India Business Leader Awards 2024, where it won the ‘Outstanding Company of the Year’ title. During the ceremony, Bajaj announced that their electric scooter, Bajaj Chetak, had surpassed Ola Electric to become the largest-selling EV scooter in India, as per December VAHAN registration data. In a cheeky remark, Bajaj said, “Ola toh Ola hai, Chetak shola hai,” highlighting the Chetak’s new market dominance.
Previously ranked third in EV scooter sales, Bajaj Chetak climbed to the top under the leadership of Rishabh Bajaj, who has been part of the Chetak EV team for 2.5 years. The milestone reflects Bajaj Auto’s commitment to innovation and sustainable mobility. Bajaj Auto’s shares also surged by 2.3%, closing at ₹9,107.60, underscoring investor confidence.
Meanwhile, Ola Electric, which held a 25.09% market share in November with 27,746 registrations, saw a 30% month-on-month decline in sales. TVS Motor Company followed closely with a 23.55% market share, while Bajaj Auto registered 22.59% during the same period.
Rajiv Bajaj credited Bajaj Auto’s transformation from value-for-money scooters to hi-tech motorcycles and green energy solutions as key factors in its success. With exports to over 100 countries and the launch of India’s first CNG two-wheeler, Bajaj Freedom 125, alongside its flagship electric Chetak, the company continues to lead India’s transition to sustainable mobility.
Bajaj Auto’s strategic achievements position it as a global leader in the EV space, while rising competition places pressure on rivals like Ola Electric to defend their market share in an increasingly competitive landscape.
