Yulu intends to deploy 1 lakh EVs and invest Rs 1200 crore in Karnataka
Yulu intends to deploy 1 lakh EVs and invest Rs 1200 crore in Karnataka

Yulu intends to deploy 1 lakh EVs and invest Rs 1200 crore in Karnataka

November 5, 2022

Karnataka is everyone’s favorite destination when it comes to peeking at the rich heritage of India or visiting the wildlife or national parks. Now it is time the state rises from its old title and ventures into the new and futuristic field of mobility namely Electric vehicles. All this is possible because of the investment decision undertaken by Yulu to make Karnataka the leader in electric vehicles by putting in 1 lakh EVs on the roads of Karnataka. In the next five years, they also want to operationalize the infrastructure for battery switching and charging.

About Yulu

Yulu is a Bengaluru-based transportation company with its beautiful amalgamation of technology. They are a team of positive change-makers who work for sustainability while doing business. The platform permits Integrated Urban Mobility using both public and private transportation methods. Yulu provides seamless, shared, and sustainable first- and last-mile connectivity using Micro Mobility Vehicles (MMVs) via a user-friendly smartphone app. They are working to shift the focus of people from traditional petrol vehicles to new-age EVs.

Yulu intends to deploy 1 lakh EVs

According to a statement from Yulu, the company and the Karnataka government have inked a memorandum of understanding (MoU) for the purpose, which will also encompass investments in new technology, innovative products, and sustainable business practices.

In addition, Yulu will construct a “center of excellence” for designing and perfecting cutting-edge vehicle designs, IoTs, and EV charging equipment in addition to creating roughly 7,000 direct jobs across its value chain operations.

R K Misra, a co-founder of Yulu, stated that the business has collaborated closely with government agencies and policymakers to develop regulations that support a thriving EV ecosystem.

This MoU is a step forward in that partnership and also cements Karnataka’s position as a preferred investment destination for electric vehicle manufacturing, R&D, and deployment hub in India,” he added

The EV provider claims that its solution offers first- and last-mile mobility, and it has established successful agreements in Karnataka with the city of Bengaluru’s government (BBMP/DULT) for both parking and charging infrastructure, as well as with the Bengaluru Metro (BMRCL).

In addition to more than 1,000 spots throughout the city, Yulu zones can be found close to important BMRCL Metro Stations and BMTC bus stops. It has established a significant footprint in the battery-as-a-service industry with more than 70 charging and swapping stations, and it is still growing quickly.

Final words

The company has decided to place its foot in the right direction by signing this MOU with the Karnataka government and this will help the company in growing and making a significant contribution to the government’s electric vehicle policies. Not just this but it’ll help in broadening the thinking of people in adopting EVs.

The post Yulu intends to deploy 1 lakh EVs and invest Rs 1200 crore in Karnataka appeared first on E-Vehicleinfo.

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