Bajaj Auto will be developing a new low-cost electric scooter for shared e-mobility service start-up Yulu that could be priced at around Rs 35,000. A report in Moneycontrol.com said that Bajaj has already started to develop the e-scooter to compete with Chinese players.
Currently, the Bangalore-based Yulu imports kits for electric scooters from China and assembles them in India. Yulu has an inventory of 4,000 e-scooters on the roads, which it intends to increase to 100,000 units by December 2020 and will be spending Rs 400 crore for the same. With the increase in production, Yulu will also be looking to expand its presence to 56 cities across India, reports Yourstory. The company currently offers its services in Bangalore, Bhubaneswar, Mumbai, Pune and Delhi.
Yulu’s current e-scooter is basic, not-so-good looking single-seaters and the company is expecting to make them modern and aesthetic while maintaining the simple theme from the new product of Bajaj.
We are spending about $600 per bike. We are getting them manufactured in China and assemble them in India. With Bajaj Auto coming on board, we can bring down the price to $500 in the medium to long term. From over Rs 40,000, we can bring it down to Rs 30,000-35,000. Our product is customised for shared mobility.Amit Gupta, Co-Founder & CEO, Yulu
Yulu’s current e-scooters (explained in the company’s video embedded above) are powered by a 48V motor and come with a top speed of 25 km/h and a range of 60 km per charge. Yulu’s Co-Founder and CEO, Mr Amit Gupta has said that they need a single-seater, low speed, low weight e-scooter from Bajaj and the suggestive date of launch for the new scooter would be next year. It is reported that the Chetak platform was too expensive for the application.
In November 2019, Bajaj Auto invested $8 million in Yulu for it to expand its operations. Bajaj will also be considering assisting in vehicle finance to enable Yulu to achieve large scale deployment.
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. In Yulu we find an experienced and committed partner with the robust achievement of success metrics in a very short time. And this is why we decided to partner with them in their journey of bringing Yulu service to every neighbourhood of Urban India.Rajiv Bajaj, Managing Director of Bajaj Auto