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.
