Yulu, India’s largest shared electric mobility player, and Bajaj Auto, the world’s most valuable two-wheeler and three-wheeler company, have joined forces to launch a new generation of electric vehicles in India. The Miracle GR and DeX GR are developed on a purpose-built platform for electric two-wheelers that is engineered specifically for Indian consumers, climate, and road conditions. With their unique form-factor, ergonomic design, and tech-powered utility, these vehicles are poised to offer a superlative experience to customers while improving Yulu’s overall financial metrics.
A New Milestone in Urban Mobility
The partnership between Yulu and Bajaj Auto represents a global first-of-its-kind collaboration between a mobility tech company and a leading two-wheeler OEM. Their shared vision is to transform mobility through smart, shared, sustainable, and safe electric vehicles. The Miracle GR and DeX GR are powered by Yulu’s revolutionary AI-led technology stack and exclusively manufactured by Bajaj Auto. These vehicles are made in India, for the world, and are being rolled out by Chetak Technology Ltd, a 100% owned subsidiary of Bajaj Auto.
Creating Long-Term Value
According to Amit Gupta, co-founder & CEO of Yulu,
“Together with Bajaj Auto, we are setting a new benchmark in urban mobility by ensuring affordable access to the best-in-class ride while taking pioneering steps towards green commuting. Mobility needs & customer expectations are rapidly changing & traditional ownership models are being disrupted. As a leader in shared mobility, we understand the criticality of curating purpose-built vehicles and robust energy infrastructure to create long-term value.”
S Ravikumar, Chief Business Development Officer, Bajaj Auto Limited, said,
“Going electric is a key strategic priority at Bajaj, and Yulu is an integral part of this strategy. Yulu’s deep expertise in EV technology and market knowledge coupled with Bajaj Auto’s strong, world-class R&D & manufacturing capabilities, is a powerful force that is shaping India’s future of mobility.”
The Future of Mobility in India
With Yulu’s fleet operating on swappable batteries and powered by Yuma Energy, there are currently around 100 Yuma stations across Bengaluru, Mumbai, and Delhi, which the company plans to scale to 500 by 2024. Yulu aims to put 100,000 vehicles on the road across major cities in India and is targeting more than 10x growth in revenues by the end of the year. By manufacturing the vehicles from world-class automotive manufacturer Bajaj, Yulu also expects significant cost reductions and meaningful improvements in operating metrics and overall financials, owing to locally sourced parts and assembly, superior production quality, and optimized economies of scale.
The Yulu-Bajaj partnership represents a first-of-its-kind global collaboration between a new-age Mobility-as-a-Service company and a leading OEM to create an all-new platform for sustainable last-mile mobility and deliveries. The Miracle GR and Dex GR are made in India with world-class quality, offering a superlative customer experience and strong unit economics. These purpose-built vehicles are set to change the way people move, making sustainable transportation accessible and affordable to all.
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