Bajaj Auto overcomes Global Magnet Supply Challenge, Chetak deliveries resume ahead of plan and the Festive Season

Bajaj Auto, the world's most valuable 2-wheeler and 3-wheeler company, today announced that supplies of its electric scooter, Chetak, have resumed across all dealerships, after successfully overcoming constraints caused by global rare earth magnet availability.

In recent weeks, temporary supply constraints linked to international component availability had moderated deliveries. The sustained and growing demand for Chetak added further pressure on supply.

With production restored ahead of schedule, Bajaj Auto reaffirms its commitment to ensuring that every Chetak customer enjoys the unmatched reliability, performance, and style of the 'Lifeproof' scooter. Production and shipments recommenced on August 20, marking a faster-than-anticipated return to full capacity. Further, Bajaj Auto has secured sufficient supply of rare earth magnets and other key materials to ensure availability during the upcoming festive season.

Eric Vas, President, Urbanite Business Unit, Bajaj Auto, said, "We appreciate our customers' patience. Demand for Chetak remains robust, supplies have normalised and deliveries against bookings have commenced. We are scaling up production to meet rising demand while staying true to our standards of quality and customer delight."

Chetak's strong momentum is reflected in the market as well. The brand has doubled its market share since April last year and ended FY25 as the undisputed No.1 electric scooter in the country. This growth highlights the trust and confidence customers continue to place in Bajaj Auto's electric mobility offering.

Shares of Bajaj Auto Limited was last trading in BSE at Rs. 8676.95 as compared to the previous close of Rs. 8685.50. The total number of shares traded during the day was 9766 in over 2077 trades.

The stock hit an intraday high of Rs. 8712.20 and intraday low of 8582.50. The net turnover during the day was Rs. 84456116.00.

Source : Equity Bulls

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