News In Brief Auto
News In Brief Auto

Yulu Bikes will be Available to Customers by Next Year

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Yulu Bikes will be Available to Customers by Next Year
14 Mar 2022
7 min read

News Synopsis

Yulu bikes which are available for rent will be available in the market by next year. The chief executive officer and founder of Yulu, Amit Gupta has said that the company is currently toying with the idea of adding more revenue streams to their existing shared economy business model. With this, it is also planning to finally enter the personal mobility space. 

It has introduced a longer rental plan last year for gig workers like delivery partners for brands like Zomato, Swiggy and Dunzo. It allowed these companies to use these vehicles for delivery. 

Yulu also plans to expand its presence to 10 Tier 1 and metro cities as it believes that these cities will have a business potential of $26 billion. It plans to sell an upgraded version of its existing bikes, Yulu Dex and Yulu Miracle. The CEO also claimed that all the new vehicles will be designed and manufactured by Bajaj and will be 100% made in India. It targets people who do not have a driving license and need a second option to travel for short distances.

Yulu has focused on just three markets over the last three years to improve its back-end charging infrastructure. The company has recently achieved more than 3 million battery replacements through its Max Network. With the expansion of the fleet and new cities, it plans to have 3 million swaps a month by the end of December.

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