The platform – which has been developed by Bajaj Auto exclusively for Yulu Bikes with inputs from the company – has high levels of localisation. Yulu Bikes has plans to launch multiple variants on the next gen electric platform targeting commercial operators in food delivery and last mile connectivity segments.
With the new products Yulu Bikes – which closed $82 million (Rs 653 crore) in Series B funding led by Canadian automotive parts maker Magna International in September – is looking at growing operations 10X in the next one year. The company is targeting putting on-road 100,000 electric two-wheelers by Oct 2023.
Amit Gupta, co-founder and CEO, Yulu Bikes told ET, “The potential for growing micro-mobility services in India is massive. As much as 85% of the population today either does not have access to their own vehicle or does not own a driving licence. Our bikes are cost-effective, do not require a licence and are designed as a mobility solution to enhance livelihoods of commercial operators.”
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