BENGALURU: Bajaj Auto , the world’s third-largest motorcycle company, has invested $8 million (about Rs 57 crore) in bicycle and electric scooter rental startup Yulu As a part of the deal, Bajaj is also going to manufacture customised electric scooters for the Bengaluru based startup.
That coupled with the expansion of Mass Rapid Transport System like Metro in large cities will further boost the demand for flexible last-mile connectivity,” said Rajiv Bajaj , managing director of Bajaj Auto, said.Yulu plans to increase its fleet size to 100,000 electric two-wheelers by December 2020.
The Bengaluru-based company claims to do between 30,000-35,000 rides a day, of which 12,000-13,000 comes from its electric scooters.In June, Uber partnered with Bajaj Auto to launch UberXS, a new category of rides on its platform using quadricycles called Qute.
Interestingly, Uber has also partnered with Yulu, where users can book its vehicles using the ride-hailing major’s app.“Shared mobility is an ecosystem play.
Separately, Bounce, also a leading player in India’s still-nascent mobility space, is also piloting with a fleet of 1,000 EV scooters | To read full story, visit https://startuparound.com/read/1574753404.7886631/Bajaj-Auto-pumps-in-$8-million-into-mobility-startup-Yulu?ref=audio_experience