28 February 2023, New Delhi: Yulu, India’s largest shared electric mobility player, and Bajaj Auto, the world’s most valuable two-wheeler and three-wheeler company, today launched Miracle GR & DeX GR. These new generation vehicles are developed on a purpose-built platform for electric 2-wheelers that is engineered for Indian consumers, climate, and road conditions. With their unique form-factor, ergonomic design & tech-powered utility, the Miracle GR and DeX GR are set to offer a superlative experience to customers along with higher operational efficiency, thus dramatically improving Yulu’s overall financial metrics.
Globally a first-of-its-kind, this partnership between a mobility tech company & a leading 2-wheeler OEM is built on the common vision to transform mobility through smart, shared, sustainable, and safe electric vehicles. Powered by Yulu’s revolutionary AI-led technology stack and exclusively manufactured by Bajaj Auto, the Miracle GR & DeX GR are made in India, for the world, and are being rolled out by Chetak Technology Ltd (a 100% owned subsidiary of 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”, said Amit Gupta – Co-founder & CEO, of Yulu. “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. Our partnership with Bajaj Auto was born out of this common vision and this launch will further solidify our position as a market leader in the shared mobility space while reinforcing our commitment to sustainably solve the problems of traffic congestion and air pollution for a daily commute and last-mile deliveries.”
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. These next-generation made-for-India vehicles with their intelligence, strong engineering underpinnings and sophisticated design aesthetics are a milestone not just for us, but for the entire electric mobility category.”
Having doubled its fleet in the last 3 months, Yulu is poised to put 100K vehicles on the road across major cities in India and is targeting more than 10x growth in revenues by the end of the year. Manufacturing 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 optimize economies of scale.
Yulu’s fleet operates on swappable batteries and is 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.