Bajaj's Chetak sales plummet due to China's magnet export restrictions

Auto Aug 22, 2025

Bajaj Auto's Chetak e-scooter sales have taken a major hit this August, dropping to 7,069 units—down from 16,818 last year.
The culprit? A shortage of heavy rare-earth magnets, made worse by China's export restrictions.
Bajaj now holds just 12% of the market share compared to 19% last year.

Bajaj's MD Rajiv Bajaj speaks on the issue

This supply crunch has pushed Bajaj down to fifth place in electric two-wheeler sales—their lowest spot this fiscal year.
Meanwhile, Ather Energy jumped to second place by managing inventory smartly and is already exploring magnet-free tech for the future.
Bajaj's MD Rajiv Bajaj admits switching suppliers or redesigning parts isn't easy or cheap, but there's hope things will improve soon if China relaxes export curbs.