Bajaj Auto is making notable progress in its electric vehicle (EV) journey, particularly with its Chetak electric scooter, which has emerged as a market leader in the January–March quarter of FY25. Thanks to a combination of rising sales volumes, improved cost efficiencies, and support from the Production-Linked Incentive (PLI) scheme, the company is nearing EBITDA break-even in its EV segment—a significant milestone.

Key takeaways:

Chetak's market leadership in Q4 FY25 reflects strong consumer adoption and competitive positioning.

Dinesh Thapar, CFO of Bajaj Auto, stated that the company has made substantial progress over the last 18 months in improving unit economics.

If current pricing levels hold, EBITDA-level breakeven for the EV division appears imminent.

This shift marks a turnaround from the heavy losses the EV segment previously incurred.

This development signals growing financial viability of electric two-wheelers for traditional automakers and reinforces Bajaj Auto’s strategic focus on electrification.