Bajaj Auto to provide low-cost electric scooters to Yulu
Bajaj Autowill provide low-cost electric scooters to Yulu.
- The single-seater electric scooters will be priced between ₹30,000 to 35,000.
Bajaj Auto invested $8 million in the bike-sharing startup Yulu in November last year. It is the first to receive funds from the auto major. Now, the company is all set to provide a single-seater low-power electric scooter to Yulu.
Bajaj Auto will replace Chinese scooters
At present, Yulu is sourcing its electric scooters manufactured in China and assembled in India. With this new partnership, the scooters will be manufactured and assembled by Bajaj Auto in India.
Speaking about the partnership, Amit Gupta, co-founder and CEO, Yulu, said, “We are spending about $600 per bike. With Bajaj Auto coming on board, we can bring down the price to $500 in the medium to long term. From over ₹40,000, we can bring it down to ₹30,000-35,000. Our product is customized for shared mobility.”
Yulu wants to increase its inventory to 1 lakh scooters
Yulu is expected to spend around $60 million this year to procure an inventory of a lakh scooters. However, the scooters from Bajaj will only hit the roads next year. At present, it has an inventory of around 4,000 electric scooters and will focus on only four to five cities this year.
“What we need is a single-seater, low speed and low weight vehicle. That is why all this will take some time for the transition to happen from China to India. It is difficult to provide an indicative launch date for the Bajaj-developed product, but we are hoping for something by next year.” Gupta added.
At the moment it’s not clear whether the new electric scooter will be offered directly to customers or not. Yulu is a ride-sharing startup which provides scooters on a rental basis.
Yulu’s existing electric scooters are powered by a 48V motor that offers a top speed of 25 kmph and a maximum range of 60 km. The company charges ₹10 per hour from customers to rent the scooters.
Earlier this year, Bajaj Auto re-introduced the iconic Chetak in an electric form. The premium scooter has been priced over ₹1 lakh and competes with the likes of the TVS iQube and Ather 450X.
Yulu receives USD 8 mn funding from Bajaj Auto
The iconic Bajaj Chetak makes a grand e-comeback with a price tag of over ₹1 lakh