Bajaj Auto has joined hands with Yulu to transform urban commute in India. The company is investing $8mn in YULU, to compliment this strategic relationship.
Yulu is the leading shared micro-mobility service provider using electric two-wheelers to reduce traffic congestion and air pollution in urban India. The company is working to create sustainable cities of tomorrow by revolutionizing the way people commute. The technology-driven mobility platform uses IoT, ML, and AI for demand-supply management and efficient operations. Currently, Yulu is present in Bengaluru, New Delhi, Pune, Greater Mumbai, and Bhubaneswar.
The mobility service provider will source from Bajaj electric two-wheelers which have been co-designed and manufactured exclusively for shared micro-mobility. Bajaj will also consider facilitating the vehicle finance needs of YULU for a large scale deployment of its micro-mobility electric vehicles.
Consumer adoption of EVs has been limited due to practical factors like range anxiety and availability. On the other hand, improving asset utilization of the existing class of vehicles with shared-mobility platforms has not been able to reduce the dual problem of traffic congestion and pollution in a significant way.
With it’s IoT-enabled EV Fleet and ML-driven network intelligence, Yulu is solving for the demand-supply problem and growing its footprint in a sustainable manner. Through its early partnerships with mass rapid transit systems like Metro, Yulu layers commuter patterns on top of its network intelligence bringing high availability and convenience to its customers. This technology-driven approach is key to continuously increase operational efficiency and help reduce traffic congestion in a meaningful way.
Rajiv Bajaj, Managing Director of Bajaj, said, “At BAL, we believe that the two factors of congestion reduction and pollution control will drive the segment of shared micro-mobility in the future. That coupled with the expansion of Mass Rapid Transport System like Metro in large cities will further boost the demand for flexible last-mile connectivity. 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.”
With this partnership, Yulu will consolidate its leadership position in the shared electric micro-mobility space and help accelerate the adoption of Electric Vehicles in India. It plans to increase its fleet size to 100,000 electric two-wheelers by Dec 2020 with an extensive network of its battery-swapping stations across the cities where it operates.
Source: Press Release