- Bajaj invests in Yulu
- Chetak could be available at Yulu stations
Bajaj Auto has invested around Rs 57 crore in Yulu, a shared e-mobility service provider. This is the first time the Pune-based manufacturer has invested in a company that deals with last mile connectivity.
Through this new partnership, Yulu will source electric two-wheelers from Bajaj which have been designed and manufactured exclusively for shared mobility. This means, Yulu is likely to have the Chetak e-scooter in its portfolio, along with EVs specially designed for shared services.
The Pune-based manufacturer is likely to provide vehicle finance for Yulu’s large scale EV deployment. This is likely to be done through Bajaj Finance. Yulu is planning to increase its fleet size to 1 lakh electric two-wheelers by December 2020. It also plans to have an extensive network of battery swapping stations across the country.
