Press Release

27 February 2023

Yulu & Bajaj Auto launch their new & revolutionary electric 2-wheeler platform purpose-built for urban mobility needs

• Yulu-Bajaj partnership is 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
• Born of leading-edge technology, Yulu’s 3rd generation vehicles, Miracle GR & Dex GR are Made in India

with a world-class quality

• Offering a superlative customer experience and strong unit economics, these purpose-built vehicles will change the way people move

27 Feb 2023, Bengaluru, India: 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, 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 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 optimized economies of scale.

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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.

About Yulu

Yulu is India’s largest shared electric mobility & Battery-as-a-Service company, founded in 2017 by seasoned & serial entrepreneurs with the mission to reduce traffic congestion & air pollution while improving livelihood for millions of people. Yulu offers accessible, equitable, and sustainable mobility to a large section of society with its purpose-built smart vehicles, cutting-edge technology, and efficient on-ground operations. Yulu is backed by very credible & deeply committed investors who share the same long-term vision. Already a pioneer in the EV industry, Yulu has influenced several progressive policies that have accelerated the pace of adoption of sustainable mobility in India. Yulu is also significantly contributing to the United Nation’s Sustainable Development Goals for a better planet now & for the future.

For further information, please visit www.yulu.bike or follow us on Twitter @YuluBike.

About Bajaj Auto

With over 21 million motorcycles sold in over 79 countries, the Bajaj brand is truly “The World’s Favourite Indian”. It is India’s No.1 motorcycle exporter, with two out of three bikes sold internationally carrying a Bajaj badge. The company is also the world’s largest manufacturer of three-wheelers. Bajaj Auto is the first two-wheeler company in the world to have reached a market cap of INR one trillion and continues to be the world’s most valuable two-wheeler company. It has been delivering products which have best-in-class design and technology and are built on uncompromised quality for the past 75 years. The company’s unwavering commitment towards new product initiatives has made it future-ready.

About Chetak Technology Ltd

Chetak Technology Ltd., a wholly-owned subsidiary of Bajaj Auto Ltd., envisions providing sustainable and futuristic mobility solutions. Its first offering, the all-electric Chetak, aims to usher in a revolution in urban mobility. Centred in Akurdi, Pune, Chetak Technology Ltd. will lead the charge towards a cleaner and greener tomorrow, making Hamara Kal better.

Media Contacts Yulu:

Ankit Taparia | Head - Marketing & PR | pr@yulu.bike

Concept Public Relations

Archana Jain | archana@conceptindia.com (+91 9845541244)
Subhash S | subhash@conceptpr.com (+91 98942 04486)

Bajaj Auto:

Pitchfork Partners
Varun Vishwanath | varun.vishwanath@pitchforkpartners.com (+91-9930104931)
Rajvi Bhansali | rajvi.bhansali@pitchforkpartners.com (+91-9869249701)

For Business partnerships with Yulu, write to bizdev@yulu.bike