Chetak Technology Ltd (CTL) and its vendor partners will be investing nearly ₹ 750 crore in this new EV manufacturing facility. Spread in 6.5-acre land, the 5-lakh annual capacity two-wheeler production plant is aimed at catering to both domestic and export markets, the company said.
Rajiv Bajaj told Moneycontrol, "Well, I think nobody is able to meet the demand right now, so we are not the only ones in that privileged situation. There is a very strong tailwind driven, as you said, by fuel prices and we are all trying to scale up the best we can. We are all aware of the shortages with the semi-conductor, etc. We could make 2,500 vehicles only last month in May; up until then we were struggling to make a 1,000 vehicles on an average. All of last financial year, about 9,000 Chetaks were produced and sold. We are opening now to make our way to make 5,000 a month and so on and so forth. It will take some time because the supply chain is still not robust enough."
He stressed, "Having said that, I must emphasise that scaling up is not our priority at this stage. We are well aware that we are dealing with a new animal. We have to get the technology, the quality, and the customer experience absolutely right. So, it’s about R&D, it’s about the supply chain, and it’s also about what happens at the dealership where the rubber meets the road. We are not in a daring hurry to make millions of Chetaks, we just have to make it right."
Apart from inaugurating this new facility, the new Chetak is available in 30 cities across India. Over 14,000 Chetak electric scooters have been sold while more than 16,000 bookings are currently in the pipeline. To cater to the increasing demand, the company aims to expand this plant’s capacity to 5,00,000 electric two-wheelers per annum.