Indian: Bajaj Auto invests $8m in e-bike rental startup Yulu

Visual from Yulu website

Indian motorcycle maker Bajaj Auto Ltd (BAL) Tuesday said it is investing $8 million in Bengaluru-based bicycle and electric scooter rental startup Yulu.

Per the investment terms, Yulu will source electric two-wheelers from Bajaj. The vehicles will be co-designed and manufactured exclusively for shared micro-mobility. Besides, Bajaj will also consider facilitating the vehicle finance needs of Yulu for a large scale deployment of its micro-mobility electric vehicles, it said in a statement.

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