Bajaj Auto-backed Yulu, India's largest shared electric mobility company, is eyeing international markets with its electric two-wheeler ecosystem around 2025-26. This expansion will be driven by a new product from Bajaj, alongside Yulu's broader plans to grow its market presence and product offerings in India. The company aims to achieve profitability by 2024-25. It is exploring two new products: one in partnership with Bajaj and another with an EV startup.
"The Bajaj model may take a bit longer due to their focus on perfection and various research and development programmes. For now, we are most likely to launch the product with the other original equipment manufacturer within this calendar year," said Amit Gupta, cofounder and chief executive officer of Yulu.
The plan is to use the Bajaj product for international expansion and the EV startup model to enter new categories, such as e-commerce, in India. The Bajaj product will also be introduced to the Indian market before its overseas launch.
This story is from the July 29, 2024 edition of Business Standard.
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This story is from the July 29, 2024 edition of Business Standard.
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