Yulu Becomes EBITDA Profitable, Annual Recurring Revenue Crosses $30 Million

Yulu

Yulu, an electric vehicle and shared mobility start-up, has announced that it has become India’s largest EBITDA (earnings before interest, taxes, depreciation and amortisation) profitable shared electric mobility company and also has crossed an Annual Recurring Revenue (ARR) of $30 million (INR 2.5 billion).

This milestone has been achieved through Yulu’s product-market fit, the surging demand for quick commerce and food delivery services, and policy tailwinds. 

The company claims to have over 40,000 EVs and has added more than seven-fold (7X) customers over the last 24 months.

Armed with a scalable growth engine powered by its AI-enabled full-stack EV platform, and supported by Yuma Energy – one of India’s largest battery-swapping networks – Yulu has been instrumental in fueling the hypergrowth of quick commerce. As an integral part of the delivery ecosystem, Yulu has significantly contributed to Sustainable Development Goals by enabling green deliveries to millions of consumers across 11 cities in India.  

Amit Gupta, Co-Founder and CEO, Yulu said, “Yulu is delighted to achieve the EBITDA-positive milestone. 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. With its best-in-industry technology stack and reliable and purpose-built EVs by Bajaj Auto, Yulu stands out with a unique advantage and unmatched scalability. We’re excited about the future and look forward to seizing the vast opportunities in instant and hyperlocal deliveries.”

Yulu is now doubling down on its plan to deploy 100,000 EVs by 2025. To finance this expansion, the company will raise $100 million (INR 8.3 billion) in Series C debt and equity funding over the next 12 months.

The EV maker states delivery riders prefer its e-scooters since it enables 30-40 percent higher savings over ICE vehicles. To date, the company has enabled better livelihoods for over 1,50,000 riders – including women – and their families.

The value proposition of Yulu’s purpose-built EV platform also lowers delivery companies’ logistics and manpower costs and has enabled the company to build deep partnerships with food delivery and quick commerce businesses like Zomato, Zepto, Blinkit, Swiggy, and others. 

Owing to these factors, in areas served by Yulu, the company has nearly 100 percent coverage of dark stores. Yulu’s EVs comprise 35 percent (in some cases, up to 80 percent) of all vehicles at the store level. Its strong market presence enables Yulu to power over 20 million green deliveries every month. 

Going forward, Yulu plans to launch a mid-speed electric two-wheeler, which will be unveiled before the year-end. With a top speed of 45kmph, the EV will cater to additional use cases like bike taxis, e-commerce deliveries, long-distance food orders, and courier services, besides higher-payload goods deliveries

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    Aishwarya Pissay Wins Third Bajas World Cup Medal

    Aishwarya Pissay Wins Third Bajas World Cup Medal

    Aishwarya Pissay has added one more World Championship medal to her kitty by securing third place in the 2024 FIM Bajas World Cup. With this victory, she has become the first and only Indian to win three World Championship medals in Motorsport.

    The championship's eighth and final event, the challenging Dubai International Baja, took place on Sunday, marking the end of the season. The Bengaluru rider, who competed in the 450 cc and Ladies' classes, encountered technical difficulties, including problems with her navigation system in the last round, which prevented her from making it to the final classification. Notwithstanding these disappointments, she was able to solidify her position as a trailblazer in Indian motorsport by earning enough points from previous events to clinch the second runner-up spot on the Bajas World Cup standings.

    With her victory in the 2019 Bajas World Cup, Pissay became the first Indian to win a World Championship in motorsport. She currently possesses three World Cup medals, which is a record in 2W motorsport. Together with co-sponsors IIFL, Micro Labs and Surana College, TVS Racing has helped to support her outstanding achievements.

    Pissay said, “This rally was a true test of resilience. Unfortunately, technical issues with the navigation system on both days kept me out of the general classification, but every challenge brings a valuable lesson. Rally life often throws the unexpected at you, and this experience has only fuelled my determination to come back stronger. Despite the setbacks, I’m immensely proud to have secured 3rd place in the World Championship for India. This marks my third World Championship podium in the history of the sport, and I’m deeply grateful for the unwavering support of my team, fans, and everyone who continues to believe in me.”

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      Royal Enfield Commissions New Plant In Thailand

      Royal Enfield Commissions New Plant In Thailand

      Royal Enfield commissioned a new plant in Thailand to assemble its motorcycles out of CKD kits supplied from India. The facility marks the two-wheeler maker’s first such in Thailand and sixth globally. 
      Located at Samut Prakan near Bangkok, the capital city of Thailand, the facility – fully owned and operated by Royal Enfield – will help the two-wheeler major to cater to the home market of Thailand as well as the surrounding markets. 
      Adding to the number of such facilities Royal Enfield has in Argentina, Colombia, Brazil, Bangladesh and Nepal, the Thai facility is spread over an area of 57000 sq. ft and can do 30,000 units per year. 
      Modern, efficient and flexible, the facility will initially cater to the home market of Thailand. It will ramp up in a phase wise manner to cater to the other markets in the region over time. 
      Of the opinion that the reception from the international audience has been great as they look for motorcycles that are accessible and a unique extension of their personality, B Govindarajan, CEO, Royal Enfield, averred, “Royal Enfield has been working extensively to grow the middleweight motorcycling segment globally. We have an evocative range of motorcycles across various platforms catering to our global audiences.”
      Emphasising that Royal Enfield is a truly global brand and ranks among the top mid-segment motorcycle brands in markets such as the UK, Korea, Australia-New Zealand among others, he explained, “Our strategic intent is to have an international expansion strategy of investing in markets with huge potential to grow. Thailand assembly plant caters to this vision. We thereby are bringing more and more motorcycle enthusiasts to experience the DNA of Royal Enfield - Pure Motorcycling”.
       

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        Riding The 100 Ft. Long 'Definitely Daring’ Bridge On A Bajaj Pulsar NS400Z

        Riding The 100 Ft. Long 'Definitely Daring’ Bridge On A Bajaj Pulsar NS400Z

        In the India Bike Week, 2024, that will take place in Goa on 6 and 7 December, will see the Pulsar brand of motorcycles from Bajaj Auto make a ‘Definitely Daring’ debut. This will involve a unique experience of riding on a 100 ft. long bridge on the recently introduced NS400Z that is also 24 ft. high. 
        Bajaj Auto, in collaboration with Ghost Ryderz (which is claimed to be India’s number one stunt riding team), will provide participants an experience that is unique as well as ‘learning’. For the first time, the two-wheeler major is taking Ghost Ryderz to India Bike Week to provide an opportunity for the participants to stunts such as a ‘wheelie’ or ‘stoppie’ under guidance of experts and in a safe manner. 
        The participants at the India Bike Week will also witness signature Pulsar Stunt Shows featuring daring performances with never-seen-before stunts. Bajaj Auto has partnered with Tiivra to offer the participants an opportunity to experience the NS400Z and the all-new N125 on a specialised fun track curated to showcase Pulsar's performance and agility.
        “Over twenty-four years, we have built a strong following of ‘Pulsar Maniacs’ across India who love the bike for its daring attitude and sporty DNA. We have always found innovative ways to connect and engage with our loyal customers across India. For our debut at IBW we decided to create moments that define Pulsar’s philosophy of being ‘Definitely Daring.’ At IBW, we’re inviting enthusiasts to experience the thrill, the adrenaline, the pure joy of riding a Pulsar,” said Sumeet Narang, President, Marketing, Bajaj Auto Ltd. 
         

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          2024 KTM 250 DUKE Now Available For INR 225,000

          2024 KTM 250 DUKE Now Available For INR 225,000

          KTM, the world's largest and India's fastest-growing premium European brand, has announced a price cut of INR 20,000 for its KTM 250 DUKE 250 cc motorcycle in India as part of its year-end celebrations.

          Featuring two ride modes, Street and Track, the motorcycle now also boasts new LED headlamp setup with integrated pilot lights and a 5-inch colour TFT display with turn-by-turn navigation and Bluetooth connectivity. Bi-directional Quickshifter now comes as standard on the KTM 250 DUKE 250 cc.

          The 2024 KTM 250 DUKE will be available at INR 225,000 (ex-showroom, Delhi) instead of its original price of INR 245,000 till 31 December 2024.

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