E-bike rental startup Yulu has shared its plans to expand and increase profitability as it looks to go public. The company currently operates in Bengaluru, Delhi, and Mumbai, but plans to expand to Hyderabad, Pune, Chennai, Kolkata, and Ahmedabad over the next 15 months, while also exploring partnerships with local entrepreneurs in other markets. CEO Amit Gupta has said Yulu is open to providing its technology platform to anyone running a small fleet in cities where it does not have a long-term presence. Yulu has relied on tie-ups with Zomato, Swiggy, and Zept to fend off competitors such as Zypp Electric and Ola Electric. The company is also aiming to increase its fleet to 100,000 by the end of the current fiscal year, and Gupta has said the firm is targeting countries where EV is a policy, such as Thailand and Indonesia. Yulu’s bikes are made by Bajaj Auto, and the firm plans to leverage the veteran supplier to help expand abroad while also focusing on shared transport electrification, which has been a key element of the Indian government’s transportation strategy.
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Deepak Sen is a tech enthusiast who covers the latest technological innovations, from AI to consumer gadgets. His articles provide readers with a glimpse into the ever-evolving world of technology.