Bajaj EV volumes skid in Aug, hit by magnet crisis

Chetak maker loses No. 2 spot to Ather Energy

- NARAYANAN V

BAJAJ AUTO HAS slipped to the fifth place in August electric two-wheeler (E2W) sales, so far, losing its No. 2 spot for the first time this fiscal. Volumes are understood to have been weak following disrupted supplies of rare earth magnets after China imposed a curb on exports.

The Chetak brand of e-scooter maker has sold 7,069 units in August (until August 20), capturing a 12% market share — down from 16,818 units and a 19% share a year ago. In July, Bajaj Auto had sold 19,754 units with a 19% share, holding on to the second position since the start of FY25.