Yulu becomes EBITDA positive, crosses ARR of USD 30 million
With over 40,000 EVs, Yulu’s revenues and users have increased more than seven-fold (7X) over the last 24 months.
By Autocar Professional Bureau
2862 Views
Yulu said it has become India's largest EBITDA (earnings before interest, taxes, depreciation and amortisation) profitable shared electric mobility company and has crossed an Annual Recurring Revenue (ARR) of USD 30 million, today, October 7, 2024.
With over 40,000 EVs, Yulu’s revenues and users have increased more than seven-fold (7X) over the last 24 months, the press release noted.
The company plans to deploy 100,000 EVs by 2025, for which it aims to raise USD 100 million in Series C via debt and equity, in the next 12 months.
Amit Gupta, Co-founder and CEO of Yulu noted, "As the country’s largest shared electric mobility player, Yulu is a critical enabler for the instant delivery revolution. The simplicity and ease of our platform allow gig workers without vehicles to join the delivery workforce, while also addressing the crucial supply gap in the quick commerce value chain."
He added they looked forward to seizing opportunities in instant and hyperlocal deliveries.
RELATED ARTICLES
Next-Gen Tata Harrier and Safari Likely to Feature All-Wheel Drive System
Autocar India
05 Jul 2025
The second-gen Harrier and new-gen Safari are codenamed Taurus and Leo, respectively.
Exclusive - Tata Motors Plots Comeback with New Nexon, Sierra, Avinya Brand and Compact Lifestyle SUV in Rs 35,000 Cr Overhaul
Ketan Thakkar
05 Jul 2025
Tata targets ₹10–20 lakh sweet spot and premium electric space with multi-platform offensive across ICE, EV, and hybrid ...
Exclusive: Tata Motors Partners Desay SV to Accelerate Software-Defined Vehicle Strategy
Ketan Thakkar
05 Jul 2025
Desay SV to support Tata Motors in building SDV platform for EVs and ICE vehicles across segments.
