Yulu Raises $8 Mn Funding from Bajaj Auto
Shared e-mobility service provider Yulu has secured $8 million (approximately Rs 57.2 crore) investment from two-wheeler major Bajaj Auto.
As part of the tie-up, Yulu will source electric two-wheelers from Bajaj Auto which have been co-designed and manufactured exclusively for shared micro-mobility, Yulu said in a statement.
Bajaj Auto will also consider facilitating vehicle finance needs of Yulu for a large-scale deployment of its micro-mobility electric vehicles, it added.
“We believe that… congestion reduction and pollution control will drive the segment of shared micro-mobility in the future,” Bajaj Auto Managing Director Rajiv Bajaj said.
That, coupled with the expansion of mass rapid transport systems like Metro in large cities, will further boost the demand for flexible...