Bajaj Will Make Electric Scooters Costing Rs 30,000 In India: Disruption In Electric Mobility?
In one of the biggest disruptions ever in the electric mobility sector in India, India’s biggest 2-wheeler makers Bajaj has announced that they will make electric scooters, which will cost under Rs 35,000 in India.
How will this work out?
Bajaj Will Make Electric Scooters Costing Under Rs 35,000
Bajaj will make cheap electric scooters, for a bike rental startup called Yulu.
As part of the partnership, each electric scooter will be costing under Rs 35,000, triggering a new disruption in the sector. Each electric scooter made by Bajaj for Yulu will be priced between Rs 30,000 to Rs 35,000.
If successful, then these will be the cheapest electric scooters in India right now. As of now, Yulu assembles electric scooters from China.
Amit Gupta, co-founder and CEO of Yulu, has confirmed this as he said, “We are spending about $600 per bike. We are getting them manufactured in China and assemble them in India. With Bajaj Auto coming on board, we can bring down the price to $500 in the medium to long term. From over Rs 40,000, we can bring it down to Rs 30,000-35,000,”
Yulu aims to have 1 lakh such e-scooters by the end of 2020. As of now, they have only 4000 electric scooters, which are offered on rent in Bengaluru, Mumbai and Delhi where they operate.
Bajaj, Yulu’s Big Gamble With Electric Mobility
Bajaj has recently made their first-ever investment in a startup, when they pooled in $8million to buy a minority stake in Yulu.
Hence, by creating a cheap electric bike for Yulu, Bajaj is betting big into the electric mobility sector in India.
Overall, Yulu has raised $16.5 million from various investors.
As of now, Yulu’s electric bikes are 48V motor powered, and a single charge can enable the rider to ride 60 kms, at a maximum speed of 25kmph.
The bikes are available at Rs 10/hr rent.
But Bajaj’s electric bikes for Yulu will be more appealing and can have more electric power. We are awaiting more details. These bikes will be single seater only.
Interestingly, Bajaj has recently launched their first-ever electric scooter: a revamped and electrified Chetak, which starts at Rs 1 lakh.
We will keep you updated, as more details come in.