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Pune based auto giant, Bajaj Auto, invested close to Rs 60 crore in Bangalore based electric mobility start up, Yulu, last November, and is currently developing a low power electric scooter for Yulu's fleet.
The two-wheeler manufacturing giant is building an electric scooter that will cost roughly under Rs 40,000, over a period of time of course. Yulu currently spends roughly Rs 44,000 per scooter that it is manufacturing for Yulu.
Yulu manufactures the scooters at China, assembles them in India, and say that they are able to bring costs down to roughly between Rs 35,000, and Rs 37,000 over a long term, now that Bajaj is involved.
Yulu also says that they want the new Bajaj built electric scooter to look more appealing than the current set of scooters they have. The current lot of Yulu owned scooters are basically just a chassis, a seat, and a handle bar.
Yulu also hopes to have one lakh Bajaj Auto built electric scooters in its fleet by the end of this year. As is, the company has 4,000 electric scooters spread across just five cities across the country.
The current crop of Yulu electric scooters are powered by a 48V motor, offer a top speed of 25 kilometers per hour, and offer a range of 60 kilometers over a full charge. Riding one of these electric scooters does not require a drivers license. Yulu currently charges Rs 10 per hour to use their electric scooters.
In Bajaj Auto - electric related news, the company delivered its first Chetak electric scooter to its first customer at Bangalore earlier this month. The city's first Chetak electric was delivered at a KTM showroom at Mekhri circle. To know more about the Bajaj Chetak electric scooter, click here.
Thoughts About Bajaj Manufacturing A New Electric Scooter That Costs Under Rs 40,000 For Yulu
We're not surprised at all. Bajaj Auto has the resources to pull this off without doubt. However, bringing costs to under the Rs 40,000 mark will work only when there is exceptional demand for services like Yulu. We think at least four years.