Yulu Bikes: Simplifying Mobility One Component At A Time

The Covid pandemic was a challenging time for startups. Many young people took a leap of faith and launched many startups that are running successfully in the market. During the Covid, startups in the mobility space in India. However, it also opened up new opportunities for innovative companies like Yulu Bikes.

Amit Gupta and his three co-founders saw a chance to offer long-term rentals and even sell their low-powered mopeds to consumers. With a top speed of under 25km per hour, these two-wheelers don’t require a driving license, which makes them perfect for delivery agents. The entrepreneurs at Yulu also realized the potential of an energy business. Thus, they created Yuma Energy, a joint venture with Magna, it is a large American auto components supplier. Yuma started with battery-swapping and plans to play a pivotal role in the larger energy transition India is undergoing.

Yuma stations are equipped with integrated artificial intelligence (AI)-powered charging units. They are densely located in high-demand areas, making them easily accessible to all. The battery-as-a-service business is open to other EV players as well.

At Yulu, the company expects to expand its fleet from about 25,000 mopeds currently to about 100,000 by June next year. The expansion will happen “pin code by pin code,” tapping locations where the demand is the most dense.

Yulu is available in three makes. The Yulu Dex is the perfect moped for delivery people. The Yulu Miracle is designed for the individual consumer who wants to go from point A to point B. The Yulu Wynn, made by Bajaj Auto, is a more stylish version of the Miracle that’s available for purchase for about ₹55,000 upfront. Yulu offers three subscription plans at ₹600, ₹700, and ₹900 per month.

Gupta expects revenue this year to be 7-8x higher than the last and for Yulu to hit breakeven by December. With Yuma Energy and Yulu Bikes leading the charge, the future of sustainable mobility in India looks brighter than ever.