Yulu and Bajaj Auto introduce 3rd-gen EVs Miracle GR and DeX GR for personal and commercial usage

In a bid to participate in the growing electric two-wheeler space, Yulu, India’s largest shared electric mobility player and Bajaj Auto on Monday launched its 3rd generation bikes under Miracle GR & DeX GR brands to cater to personal and commercial users.

These new generation low-speed electric vehicles are developed on a purpose-built platform for electric 2-wheelers that is engineered for Indian consumers, climate and road conditions.

With their unique form-factor, ergonomic design & tech-powered utility, the Miracle GR and DeX GR are set to offer a better experience to customers along with higher operational efficiency, thus improving Yulu’s overall financial metrics, claims the company.

The models are going to be offered by first-of-its-kind, partnership between a mobility tech company & a leading 2-wheeler OEM built on the common vision to transform mobility through smart, shared, sustainable, and safe electric vehicles.

Powered by Yulu’s AI-led technology stack and exclusively manufactured by Bajaj Auto, the Miracle GR & DeX GR are made in India, for the world, and are being rolled out by Chetak Technology Ltd (a 100% owned subsidiary of Bajaj Auto).

“Together with Bajaj Auto, we are setting a new benchmark in urban mobility by ensuring affordable access to the best-in-class ride, while taking pioneering steps towards green commuting”, said Amit Gupta - Co-founder & CEO, Yulu.

“Mobility needs & customer expectations are rapidly changing & traditional ownership models are being disrupted. As a leader in shared mobility, we understand the criticality of curating purpose-built vehicles and robust energy infrastructure to create long-term value. Our partnership with Bajaj Auto was born out of this common vision and this launch will further solidify our position as a market leader in the shared mobility space, while reinforcing our commitment to sustainably solve the problems of traffic congestion and air pollution for daily commute and last-mile deliveries.”

S Ravikumar, Chief Business Development Officer, Bajaj Auto says going electric is a key strategic priority at Bajaj, and Yulu is an integral part of this strategy.

“Yulu’s deep expertise in EV technology and market knowledge coupled with Bajaj Auto’s strong, world-class R&D & manufacturing capabilities, is a powerful force that is shaping India’s future of mobility. These next-generation made-for-India vehicles with their intelligence, strong engineering underpinnings and sophisticated design aesthetics are a milestone not just for us, but for the entire electric mobility category,” added Ravikumar.

Having doubled its fleet in the last 3 months, Yulu is poised to put 1 lakh vehicles on the road across major cities in India and is targeting more than 10x growth in revenues by the end of the year.

With the vehicles being manufactured at Bajaj Auto’s factory, Yulu expects significant cost reductions and meaningful improvements in operating metrics and overall financials, owing to locally sourced parts and assembly, superior production quality and optimized economies of scale.

Yulu’s fleet operates on swappable batteries and is powered by Yuma Energy. There are currently around 100 Yuma stations across Bengaluru, Mumbai and Delhi, which the company plans to scale to 500 by 2024.

Yulu is India’s largest shared electric mobility & Battery-as-a-Service company, founded in 2017. The company offers accessible, equitable, and sustainable mobility to a large section of society with its purpose-built smart vehicles, cutting-edge technology, and efficient on-ground operations.

Yulu is backed by credible and committed investors like Bajaj Auto and Magna who share the same long-term vision.