Yulu Unveiled 2 New Upgraded 2W in Partnership with Bajaj Auto

On 27 February 2023, Monday, Yulu Bikes PVT LTD., a Banglore-based company, launched 2 new upgraded models of its key variants- Miracle GR & DeX GR, in partnership with Bajaj Auto.

Following the new partnership between the two, Yulu is expecting a significant fall in costs and improvement in its operational finances and metrics. The vehicles after the partnership are now being manufactured utilising locally-sourced parts and assembly. 

Amit Gupta, the founder and CEO of Yulu, said, “Our partnership with Bajaj Auto was born out of this common vision and this launch will further solidify our position as a market leader in the shared mobility space.” 

Anuj Tewari, CFO of Yulu, told the press that the company is currently operating in a rental model in Bangalore, Delhi and Mumbai. Yulu is planning to launch its rental model soon, which is still under development. 

Tewari further added that the US-Based Magna International is one of the major investors in Yulu, which is looking to raise debt rather than raise equity.

Yulu’s next-gen bikes are manufactured entirely at their own facility, even though it is produced in partnership with Bajaj Auto. As a result, the bikes only share Bajaj’s powertrain and battery.

Both models will be available via Yulu’s current bike rental model. The company is aiming at 25,000 electric bikes on the road by March end. 

Bajaj Auto and Yulu’s partnership sets an excellent example of how the collaboration between new-age start-ups and traditional OEMs could revolutionise urban mobility. As the demand for sustainable mobility takes flight, collaborations like these are going to become more common in future. This partnership will bring affordable options, high-quality bikes and greener commuting, which are the major driver of growth in the vast mobility segment.

Yulu is planning to use swappable batteries to power its vehicle. These will be supplied by Yuma Energy (Yulu’s partner). This will let users easily exchange their depleted batteries for fully charged ones, eliminating the stress of waiting for their vehicles to charge. In addition, the company plans to launch its network to 500 by 2024 while improving the accessibility of its electric mobility services.

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