27 Nov 2019

Bajaj Auto Limited Invests $ 8 million in Yulu

In an recent development India's largest exporter of motorcycles, Bajaj Auto Limited has announce to invest $ 8 million (around ₹ 57.27 crore) in Bengaluru-based start up company Yulu.

According to report Yulu is a start up company whcih deals in electric mobility. Yulu in recent times has offered electric bicycles on hire.

As reported earlier Bajaj is going to launch India first Electric Scooter.  And this happens to be the first scooter of its kind to be fully made in India.  And with this project Bajaj will provide electric two-wheelers to Yulu which have been co-designed and manufactured exclusively for shared micro-mobility.

Bajaj may also consider to facilitate the vehicle finance needs of Yulu for large-scale deployment of its micro-mobility electric vehicles.

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 Limited.

In Bajaj, Yulu finds this strategic partnership and it is a win- win relationship, "said Amit Gupta, Co-Founder and CEO, Yulu.

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