[wheelguy]

"In Yulu we find an experienced and committed partner with robust achievement of success metrics in a very short time. And this is why we decided to partner with them in their journey of bringing Yulu service to every neighborhood of Urban India”, said Rajiv Bajaj, Managing Director, Bajaj Auto

New Delhi: Homegrown two-wheeler manufacturer Bajaj Auto Limited (BAL) on Tuesday has invested $8 million (Rs 57.27 crore) in shared e-mobility service provider, Yulu to transform urban commute in India. Yulu will source from Bajaj electric two-wheelers which have been co-designed and manufactured exclusively for shared micro-mobility, the company said in a statement. Bajaj will also consider facilitating the vehicle finance needs of Yulu for a large scale deployment of its micro-mobility electric vehicles.

Rajiv Bajaj, Managing Director, Bajaj Auto said, “At BAL, we believe that the two factors of congestion reduction and pollution control will drive the segment of shared micro-mobility in the future. That coupled with the expansion of Mass Rapid Transport System like Metro in large cities will further boost the demand for flexible last-mile connectivity."

According to the company, with it’s IoT-enabled EV Fleet and ML-driven network intelligence, Yulu is solving for the demand-supply problem and growing its footprint in a sustainable manner. Through its early partnerships with mass rapid transit systems like Metro, Yulu layers commuter patterns on top of its network intelligence bringing high availability and convenience to its customers. This technology-driven approach is key to continuously increase operational efficiency and help reduce traffic congestion in a meaningful way. With the help of this partnership, Yulu aims to consolidate its leadership position in the shared electric micro-mobility space and help accelerate the adoption of Electric Vehicles in India. The company also aims to expand its services to 8 mega cities and select smart cities under Smart Cities Mission.

The fresh round of investment will be utilized for further strengthening of the mobility platform and deepening of the technology solutions for rapid expansion. Yulu deploys machine learning and AI to accurately predict the demand and supply of its assets and resources which ensures vehicle availability and operational efficiency. The company also plans to increase its fleet size to 100,000 electric two-wheelers by December 2020 with an extensive network of its battery-swapping stations across the cities where it operates.

Amit Gupta, Co-Founder & CEO, Yulu said, “Bajaj Auto is the leading automaker of India and is respected globally for its quality and manufacturing capabilities at scale. Yulu is the leading electric micro-mobility service provider that requires reliable, durable and comfortable electric vehicles to serve its customers, hence a committed manufacturing partner is crucial to our success. In Bajaj, Yulu finds this strategic partnership and it is a win-win relationship.”

Source: ET Auto

Note: Request moderators to move the thread to motorbikes section, posted it here by mistake.

[TusharK]

According to a media report, Bajaj Auto has invested Rs. 57.7 crore in shared e-mobility platform Yulu.



It has been reported that Yulu will source electric 2-wheelers from Bajaj. These will be designed and manufactured for shared mobility applications.

As part of the deal, Bajaj will reportedly offer vehicle finance options to Yulu, in order to assist with large scale deployment of the electric 2-wheelers.

Yulu plans to expand its services to 8 cities and select smart cities. By December 2020, the company aims to increase its fleet size to 1 lakh electric 2-wheelers.

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