Yulu, Bajaj Auto Introducing E2W Platform for Urban Flexibility Requirements

Yulu and Bajaj Auto have joined hands to introduce Miracle Gr and DeX GR electric vehicles that are motive built for urban flexibility needs. The products are engineered for Indian consumers, climate, and road conditions, said the partners.

Yulu’s collaboration with Bajaj Auto was established in 2019, when the Pune based two and three-wheeler maker got involved in Yulu’s funding exercise then. In September last year, Infusion of $82 million was announced by Yulu, the shared electric mobility-as-a-service (MaaS) and battery-as-a-service (BaaS) provider and was led by Magna International, which will look over 500 battery charging and swapping points commissioned by September this year.

The Miracle GR & DeX GR, which are being launched by Chetak Technology, a 100% owned subsidiary of Bajaj Auto, are created in India for the globe and powered by Yulu's AI-led technology stack. The two partners have stated that they have a shared vision for how smart, shared, sustainable, and secure electric vehicles can revolutionise mobility.

Yulu stated that they have doubled its vehicles in the last three months, and is focusing to put 100,000 vehicles on the road across major cities in India. More than 10X growth in revenue is targeted by a Bengaluru-based company by the end of the year.

Yulu’s vehicles operate on swappable batteries, and Yuma Energy, a joint venture set up by Yulu with its partner, Magna, is powering it. A release issued by the company said there are currently around 100 Yuma stations across Bengaluru, Mumbai and Delhi, which the company plans to scale to 500 by 2024.

S Ravikumar, Chief Business Development Officer, Bajaj Auto 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.”

Amit Gupta, Co-founder & CEO, Yulu said the changing mobility needs and customer expectations have enabled Yulu’s partnership with Bajaj Auto. “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,” he said.