Bajaj invests Rs. 58 crore in shared e-mobility company Yulu

According to a media report, Bajaj Auto has invested Rs. 57.7 crore in shared e-mobility platform Yulu.

It has been reported that Yulu will source electric 2-wheelers from Bajaj. These will be designed and manufactured for shared mobility applications.

As part of the deal, Bajaj will reportedly offer vehicle finance options to Yulu, in order to assist with large scale deployment of the electric 2-wheelers.

Yulu plans to expand its services to 8 cities and select smart cities. By December 2020, the company aims to increase its fleet size to 1 lakh electric 2-wheelers.

Source