Bajaj To Co-develop Electric Two-wheelers With E-mobility Startup Yulu

Bajaj Auto has invested $8 million (Rs 57.27 crore) in Yulu to transform last-mile connectivity in India

Yulu will source electric two-wheelers from Bajaj. The company aims to expand its services to 8 megacities and select smart cities in India. Plans to expand its fleet to 1 lakh electric two-wheelers by December 2020. A fresh round of investment will further boost development.

It’s safe to say the infrastructure in India isn’t ideal for electric two-wheelers. The transition to complete electrification is a tough call as it is, and further hampering this growth is the capital investment needed to build an entire ecosystem around it. Bajaj understands this and has played it smart. The brand has invested $8 million (Rs 57.27 crore) in e-mobility startup Yulu, which already has its base in place. All it needs is further development and expansion. 

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Simply put, Yulu offers last-mile connectivity solutions through ride sharing platforms. This translates to less traffic congestion and air pollution. It’s also quite easy on the pocket. The brand currently has two products on offer: Miracle and Move. The former is a low-speed electric scooter while the latter is an e-bike. With a two-wheeler giant like Bajaj in the picture, Yulu intends to expand its portfolio. This also works in favour of Bajaj as the startup will source electric two-wheelers from Bajaj in the near future. These low speed electric two-wheelers will be co-designed and manufactured exclusively for shared micro-mobility, thereby helping Bajaj expand its electric reach. 

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Essentially, you could ride a low-speed Bajaj electric scooter without having to own one. And going by Yulu’s current price plan, it’ll be affordable. For a frame of reference, it takes Rs 10 to unlock the Miracle and Rs 10 for every 10 minutes of usage. But if you were to take a break, you’d be charged Rs 5 for every 10 minutes between 10am and 6 pm. During peak hours (6 pm to 10 am), this charge shoots up to a maximum of Rs 90. 

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Yulu hopes to expand its current fleet to 1 lakh electric two-wheelers by the end of 2020 with an extensive network of battery-swapping stations placed across cities, where it functions. 

 

Source: ETAuto