Power of the people: How updated TVS iQube reached 50,000 units in sales
Delhi : In 2024, KTM dealerships will introduce the Bajaj Chetak electric scooter to the European market. In addition, the Austrian company is developing its own electric motorcycle, which is scheduled to debut in the upcoming years.
Launch of Bajaj Chetak in Europe: further details
The Global CEO of KTM AG, Stefan Pierer, announced to a limited group of Indian media, "We will be launching Chetak in 2024. Due to March being the beginning of the driving season, it may start appearing on the roads after that. Price-wise, it will be fiercely competitive and go up against goods made by Chinese and Taiwanese businesses. It will be available in all marketplaces in central Europe.
The Chetak brand is well-known and has a long history, according to Pierer, who wants to keep it. A very great product, the second generation. Because Chetak is a well-known brand, we will use it and save money on marketing and digitalization. Second, Chetak symbolises India's illustrious past and will benefit us as well.
In addition, KTM is collaborating with Bajaj Auto on a 48-volt electric motorcycle that is anticipated to be released in the next several years and enter the Indian market.
India produced one million KTMs
Pierer was in India to witness the unveiling of the one millionth KTM motorcycle from Bajaj Auto's Chakan plant. KTM took 12 years to accomplish this milestone, and Pierer believes the next million will be achieved in nearly half the time. "We're doing 1.5 lakh to 1.6 lakh units each year, so the next million should be here in five or six years," Pierer claimed.
KTM sold around 3.7 lakh units globally in the fiscal year 2022, with India accounting for approximately 40%, or 1.5 lakh units. On India's future growth prospects, the CEO stated, "We have finalised our plan for 2023, and we have planned for India to expand by 10%."