KTM is also working on an EV with the Bajaj, which is expected to launch in India in the coming years.
The Bajaj Chetak electric scooter will enter the European market in 2024, through KTM. Besides, the Austrian brand is also developing its own electric motorcycle that is expected to launch in the coming years.
Launch of Bajaj Chetak Europe: more details
Stefan Pierer, Global CEO of KTM AG told a select few Indian media: “We will launch Chetak in 2024. It could hit the market after March, because This is the start of the off-road season. The price will be very competitive and it will compete with products from Chinese and Taiwanese companies. It will be available in all central European markets.”
Pierer said he wanted to keep the Chetak brand because it’s so popular and has a rich history. “The second generation is a very beautiful product. We will use it like Chetak, it is a famous brand, we will save money on marketing, digitization. Second, Chetak represents its famous history in India and it will also help us,” he added.
KTM is also working on a 48-volt electric motorcycle alongside Bajaj Auto, which is likely to launch in the coming years and will also make its way into the Indian market.
1 million KTM made in India
Pierer was in India for shipped the millionth KTM motorcycle from Bajaj Auto’s Chakan factory. It took KTM 12 years to reach this milestone, and Pierer believes the next million will arrive in almost half the time. “We are producing about 1.5 lakh to 1,6 lakh units a year, so the next one million units will appear in five or six years,” Pierer asserts.
In calendar year 2022, KTM sold about 3.7 lakh units globally and India accounted for about 40% or 1.5 lakh units. Regarding India’s future growth potential, the CEO said: “We have completed our plan for 2023 and we have budgeted for India to grow at 10%.