Bajaj's Chetak production falls 47% in July amid magnet crisis
Bajaj Auto's Chetak electric scooter saw a sharp 47% drop in production this July, with just 10,824 units rolling out.
The main culprit? A shortage of heavy rare earth magnets from China.
Sales and output both fell hard compared to last year and even the previous month, raising worries that production could almost stop by August.
Bajaj is working on alternative magnet tech
To keep things moving, Bajaj switched to lighter, more available magnets and started working on new magnet tech that doesn't rely on rare elements.
They also delayed their entry-level Chetak launch and jumped into the e-rickshaw market to soften the blow.
These moves have helped avoid a total shutdown, but making enough scooters is still tough.
Rivals adapt to the situation
While Bajaj struggles, rivals like TVS Motor, Ather Energy, and Hero MotoCorp actually ramped up their own electric scooter production in July without major hiccups.
Still, everyone's keeping an eye out for alternative magnet sources as the global shortage continues to shake up the EV two-wheeler scene.