The largest electric mobility ancillary partner, Yulu has announced a new EV platform in a joint venture with India’s most valuable 2-wheeler and 3-wheeler brand, Bajaj.
Bajaj and Yulu have teamed up in order to launch the cutting-edge electric 2-wheeler platform. The new EV platform is designed in order to fulfill the requirements of India customers in all kinds of circumstances. Furthermore, it is expected that this platform will enhance Yulu’s financial performance by optimizing operational efficiency. With the new platform, Yulu and Bajaj Auto are geared up to set a new standard for sustainable mobility.
About the newly launched vehicles
Under this alliance, Bajaj and Yulu have launched 2 new vehicles, christened Miracle GR and DeX GR. These newly launched vehicles are equipped with state-of-the-art technology for the convenience of the users. It boasts an ergonomic design that provides supreme comfort and versatility to the customers. The new platform is geared up in order to offer a splendid riding experience.
Global Vision
The alliance between the mobility tech company & a leading 2-wheeler OEM is based on an ordinary vision to upswing green mobility with the launch of smart, sustainable, and safe electric vehicles in the market. The Miracle GR & DeX GR, which are produced by Bajaj Auto and powered by Yulu’s innovative AI-driven technology, are being launched worldwide by Chetak Technology Ltd as vehicles made in India.
Expansion
Yulu is rapidly expanding its fleet and plans to have over 100,000 vehicles on the road in major cities across India by the end of the year. The company aims to increase its revenue by over tenfold in the same period. Yulu has partnered with Bajaj, a world-class automotive manufacturer, to produce its vehicles in India. By sourcing local parts and utilizing superior production quality and optimized economies of scale, Yulu expects to achieve significant cost reductions and improvements in operating metrics and overall financials. Yulu’s fleet operates on swappable batteries and is powered by Yuma Energy, with around 100 Yuma stations currently operating in Bengaluru, Mumbai, and Delhi. The company plans to scale this number up to 500 by 2024.
Official Statements
On the occasion of anticipated launch of new platform, Amit Gupta – Co-founder & CEO, Yulu said, “Mobility needs & customer expectations are rapidly changing & traditional ownership models are being disrupted. As a leader in shared mobility, we understand the criticality of curating purpose-built vehicles and robust energy infrastructure to create long-term value. Our partnership with Bajaj Auto was born out of this common vision and this launch will further solidify our position as a market leader in the shared mobility space, while reinforcing our commitment to sustainably solve the problems of traffic congestion and air pollution for daily commute and last-mile deliveries.”
S Ravikumar, Chief Business Development Officer, Bajaj Auto Limited said, “Going electric is a key strategic priority at Bajaj, and Yulu is an integral part of this strategy. Yulu’s deep expertise in EV technology and market knowledge coupled with Bajaj Auto’s strong, world-class R&D & manufacturing capabilities, is a powerful force that is shaping India’s future of mobility. These next-generation made-for-India vehicles with their intelligence, strong engineering underpinnings and sophisticated design aesthetics are a milestone not just for us, but for the entire electric mobility category.”