Guest Post
By Manish Agrawal, Founder OnePlug
How about riding electric scoter that is pocket friendly and compact enough to glide through the ever-rising traffic? Sounds like fun? Well within the near future, that’s going to be a reality as Bajaj Auto is developing their own low powered single-seater electric scooter.
By Manish Agrawal, Founder OnePlug
How about riding electric scoter that is pocket friendly and compact enough to glide through the ever-rising traffic? Sounds like fun? Well within the near future, that’s going to be a reality as Bajaj Auto is developing their own low powered single-seater electric scooter.
As a form of initial investment, Bajaj during the end of last year has invested in a total stakes worth USD 8 million in an electric mobility sharing startup named “Yulu” and interestingly it is their first-ever startup investment.
Now the plans are at full gear to launch an electric scooter for Yulu within the price bracket of INR 30,000- 35,000 by the end of 2021.According to Mr. Amit Gupta (Co-founder and CEO, Yulu), the company used to spend USD 600 per bike as they were sourcing part from china and assembling the same in India. Now as Bajaj Auto entered the scene, things would be much less complicated and within a short span, the expenditure per bike can be melted down to USD 500.
Now the plans are at full gear to launch an electric scooter for Yulu within the price bracket of INR 30,000- 35,000 by the end of 2021.According to Mr. Amit Gupta (Co-founder and CEO, Yulu), the company used to spend USD 600 per bike as they were sourcing part from china and assembling the same in India. Now as Bajaj Auto entered the scene, things would be much less complicated and within a short span, the expenditure per bike can be melted down to USD 500.
At present, the Yulu scooters are powered using a 48V motor which can be driven at a maximum speed of 25kmph. The present range of the scooter per single charge is limited to 60 only but with new technologies from reputed investors like Bajaj can push the boundaries a bit more.
Since the speed limits are carrying capacity is significantly less than a conventional scooter, riding one on the street does not require any driving license. The company is also providing an hourly rent on the basis with rent rate being maxed out to only INR 10 per hour.
Both the partners are now working upon keeping the Yulu scooter models to look trendy and stylish appealing to a younger generation while keeping it simple and easy to maintain. The target for the company is to ramp up its inventory with more than a lakh scooter by the end of 2020 which would be worth approximately INR 400 Crore.
At present they have only 4000 electric vehicles and is constantly in a hunt to target more tier-one cities as compared to the last year.
With all this development on one side, Bajaj Auto is going on with their own series of electric scooter and as of now they have already launched their first model by the name "Chetak" Electric with an on-road price bracket of INR 1 – 1.5 Lakh.
Since the speed limits are carrying capacity is significantly less than a conventional scooter, riding one on the street does not require any driving license. The company is also providing an hourly rent on the basis with rent rate being maxed out to only INR 10 per hour.
Both the partners are now working upon keeping the Yulu scooter models to look trendy and stylish appealing to a younger generation while keeping it simple and easy to maintain. The target for the company is to ramp up its inventory with more than a lakh scooter by the end of 2020 which would be worth approximately INR 400 Crore.
At present they have only 4000 electric vehicles and is constantly in a hunt to target more tier-one cities as compared to the last year.
With all this development on one side, Bajaj Auto is going on with their own series of electric scooter and as of now they have already launched their first model by the name "Chetak" Electric with an on-road price bracket of INR 1 – 1.5 Lakh.
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