Bajaj-backed Yulu Looking To Expand Overseas

Bajaj-backed electric mobility company Yulu recently announced that it plans to expand its presence to foreign territories by 2025-26. Moreover, the brand plans to enter these new markets with two new products.

The two new products under development will be one in collaboration with Bajaj Auto and another with an EV startup (the name is yet to be specified). The startup's model is expected to debut this year, while Bajaj's creation is still in the research phase.

Yulu's fleet of 35,000 electric bikes is already making waves across Indian cities. Recent investments from Bajaj Auto and Magna International have fueled significant growth, with the company expanding its presence to four major cities under its operations and three new locations through franchises.

(Also Read: Yulu Enters Hyderabad Making Its Ninth City Of Operation)

Yulu is also working on a new mid-speed vehicle with increased carrying capacity. The brand’s current models can carry loads up to 20-25 kg, with this new vehicle the capacity has been projected at 60-75 kg, making it ideal for platforms like Amazon and Flipkart. The Yulu e-bikes are hugely popular among food delivery riders especially in cities like Mumbai, Delhi, Pune and Bengaluru. 

The company's business model offers flexibility, with pay-per-minute options for short trips and longer-term rentals for gig workers. Yulu will also be ramping up its production capabilities to meet growing demand. Having secured over $135 million in funding, Yulu aims for profitability by the 2024-25 financial year. Additional fundraising efforts are planned to support its ambitious growth strategy.

As Yulu prepares for its next chapter, it's clear the company is poised to play a significant role in shaping the future of urban mobility, both in India and beyond. The electric revolution is gaining momentum, and Yulu is at the forefront of this exciting transformation.