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    Bajaj Auto invests $8 million in bike-sharing platform Yulu

    Bajaj Auto invests $8 million in bike-sharing platform Yulu

    Bajaj Auto invests $8 million in bike-sharing platform Yulu
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    By Ankit Gohel   IST (Published)

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    As part of their strategic relationship, Yulu will source from Bajaj electric two-wheelers which have been co-designed and manufactured exclusively for shared micro-mobility.

    Two and three-wheeler maker Bajaj Auto on Tuesday announced that it has invested $8 million in Bengaluru-based bike-sharing platform Yulu to boost electric vehicle adoption in India.
    Bajaj will also consider facilitating the vehicle finance needs of Yulu for a large scale deployment of its micro-mobility electric vehicles.
    As part of their strategic relationship, Yulu will source from Bajaj electric two-wheelers which have been co-designed and manufactured exclusively for shared micro-mobility.
    “At BAL, we believe that the two factors of congestion reduction and pollution control will drive the segment of shared micro-mobility in the future. 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.
    The fresh round of investment will be utilised for further strengthening of the mobility platform and deepening of the technology solutions for rapid expansion, Yulu said.
    Yulu deploys machine learning and artificial intelligence (AI) to accurately predict the demand and supply of its assets and resources which ensures vehicle availability and operational efficiency.
    The firm plans to increase its fleet size to 100,000 electric two-wheelers by Dec 2020 with an extensive network of its battery-swapping stations across the cities where it operates, it said
    "Yulu's electric two-wheelers will help Indian commuters with the first and the last mile connectivity option. This partnership aims to solve the mobility challenges of urban India in an eco-friendly manner," said Amit Gupta, Co-Founder and CEO, Yulu.
    Yulu said it is building an ecosystem of EV led micro-mobility and aims to expand its services to eight mega cities and select smart cities.
     
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