In a significant move towards greener transportation, Bajaj Auto, the renowned Indian two-wheeler manufacturer, has announced an additional investment of Rs 45.75 crore in Yulu Bikes, a leading electric bike sharing platform. This fresh capital injection reaffirms Bajaj’s commitment to the electric vehicle (EV) sector and marks a strategic partnership to enhance the last-mile mobility landscape.
Boosting Yulu’s Growth Trajectory
Yulu Bikes has reported a remarkable five-fold surge in revenue over the past year, showcasing the growing demand for eco-friendly transportation solutions. The equity funding from Bajaj Auto and Magna, both primary investors in the e-bike sharing platform, positions Yulu for further expansion and innovation in its EV lineup.
Expanding Electric Bike Presence
With an existing fleet of 30,000 electric bikes operating in cities like Delhi, Gurugram, Mumbai, Navi Mumbai, and Bengaluru, Yulu is set to leverage the latest investment to enhance its electric bike offerings, introduce innovative products, and expand its operational footprint.
Yulu Vyan: A Stride into Electric Two-Wheelers
Yulu Bikes has not only secured financial backing but has also made strides in product innovation. Last year, the company introduced its first electric two-wheeler, Yulu Vyan, priced at Rs 55,555 and available on a subscription basis. This move reflects Yulu’s commitment to providing sustainable and accessible electric mobility options for urban commuters.
