Yulu, a shared electric mobility startup, and Bajaj Auto announced the launch of two electric two-wheelers for daily commute and last-mile delivery on Monday.
These new generation vehicles are built on a purpose-built platform for electric 2-wheelers designed specifically for Indian consumers, climate, and road conditions.
The two electric vehicles, which will be rolled out by Bajaj Auto's wholly-owned subsidiary Bajaj Chetak Technology Ltd, will be powered by Yulu's technology stack and exclusively manufactured by Bajaj Auto, Yulu said in a release.
"Mobility needs and customer expectations are rapidly changing & traditional ownership models are being disrupted. This launch will further solidify our position as a market leader in the shared mobility space," said Amit Gupta - Co-founder and CEO, Yulu.
Being rolled out by Bajaj Auto's wholly-owned subsidiary Bajaj Chetak Technology Ltd, the two electric vehicles will be powered by Yulu's technology stack and exclusively manufactured by Bajaj Auto, Yulu said in a release.
"Mobility needs and customer expectations are rapidly changing & traditional ownership models are being disrupted. This launch will further solidify our position as a market leader in the shared mobility space," said Amit Gupta - Co-founder and CEO, Yulu.
Yulu claims to have doubled its fleet in the last three months and plans to deploy 100,000 vehicles across the country's major cities. In order to meet its target of more than tenfold revenue growth by the end of the year.
Yulu expects significant cost savings and meaningful improvements in operating metrics and overall financials by manufacturing these vehicles at Bajaj's facility, owing to locally sourced parts and assembly, superior production quality, and optimised economies of scale, according to the company.
"Going electric is a key strategic priority at Bajaj, and Yulu is an integral part of this strategy.
"These next-generation made-for-India vehicles with their strong engineering underpinnings and sophisticated design aesthetics are a milestone not just for us, but for the entire electric mobility category," said S Ravikumar, Chief Business Development Officer at Bajaj Auto Limited.
Yuma Energy powers Yulu's fleet, which runs on swappable batteries.
According to the release, there are currently around 100 Yuma stations across Bengaluru, Mumbai, and Delhi, with the company planning to expand to 500 by 2024.