Bajaj low-cost electric scooters for Yulu mobility start-up are meant to be alternatives to the current Chinese two-wheelers.
Bajaj Auto has invested Rs 8 million in Bangalore-based Yulu mobility start-up to reduce the use of Chinese electric two-wheelers. At present, Yulu employs single-seater low-power EVs imported as parts from China and assembled in India. Bajaj promises to provide a good alternative to the e-scooter at a price tag of around Rs 30,000-35,000. This is also the first time that the Pune-based two-wheeler manufacturer has invested in a start-up.
Amit Gupta, Co-Founder & CEO of Yulu shared that the company is spending almost $600 (around Rs 43,000) on a single e-bike. With Bajaj Auto coming on board, the prices are expected to come down to around $500 or almost Rs 36,000. In the long run, this will make a significant positive impact on Yulu’s profit margin.
Mr Gupta also added the upcoming Bajaj EVs would maintain the same theme of the current Yulu e-bikes; which is simple, clean and easy to maintain. The Bajaj e-bikes are still at an early stage of development and Yulu officials promise that they would be much more aesthetically pleasing than the current Chinese models.
Yulu is targeting an inventory of a lakh electric and lightweight two-wheelers by the end of this year. At present, the figure stands at 4,000 units. Bajaj’s Yulu-branded e-bikes will hit the market only next year and around Rs 400 crore will be invested to bring it to Yulu’s portfolio.
Yulu’s current range of electric scooters is powered by a 48V motor that propels the vehicle to a top speed of a humble 25km/h. Though the figure may not seem impressive at all, Yulu e-bikes are super fun to ride through narrow streets and they make perfect sense in cities struck with traffic jams every now and then. It is already a hit in its origin city, Bangalore and is seeing almost the same level of success in New Delhi, Mumbai, Pune and Bhubaneshwar as well. The company is seriously considering expanding its business to more cities.
As per regulations, a driver’s licence is not required to ride the low-power scooter. It offers a range of 60km on a full charge (which the user need not worry about) and an hour of usage costs just Rs 10. Alongside the e-bikes, Yulu has bicycles too.
Taking Bangalore itself as an example, the convenience offered by Yulu is quite overwhelming. Users can download the app, locate a ‘Yulu Zone’, use Bluetooth to unlock the e-bike and can simply carry on. Each Yulu bike has a charge indicator and features regenerative braking as well. Young professionals and students contribute the highest portion of Yulu’s userbase.