As urban mobility undergoes a significant transformation, user preferences are shifting towards solutions that prioritise speed, convenience and sustainability. The rise of quick commerce, where consumers demand immediate access to goods and services, has intensified the need for efficient transportation options. Electric vehicles (EVs) are emerging as the cornerstone of this evolution.
Players like Yulu and others are at the forefront of this change, reimagining mobility solutions to meet the demands of a fast-paced world. By integrating innovative technologies, such as battery-swapping systems that minimise downtime, Yulu is not only focussed on enhancing the user experience but also supporting the operational needs of gig workers and delivery services. In an exclusive conversation with Amit Gupta, Co founder and CEO, Yulu shares his seven-year long journey, challenges and future growth plans.
Eyes On Quick Commerce Sector
As cities evolve, the collaboration between mobility providers and other sectors will be crucial in creating an integrated infrastructure that supports sustainable, efficient and accessible urban mobility for all. Gupta talks about bold decisions he made to meet the objective of Yulu and the partnerships it shares with the industry.
“After 4-5 years of development, we have been able to provide very affordable prices for all the hassles,” Amit explains, emphasising how Yulu's approach distinguishes it from traditional scooter offerings. “Most off-the-shelf scooters lack the essential backbone of a charging station," he stresses how the company is focussing on building a full stack mobility solution.
The company offers a battery-swapping technology that enables users to exchange batteries in less than a minute, ensuring zero downtime. “We never waste time,” Gupta asserts. This innovation is crucial for gig workers, a primary target audience, who need seamless mobility to maximize their productivity.
Navigating Challenges and Competition
Yulu’s path has not been without obstacles. The company faced near collapse twice and underwent significant pivots. “We made the bold decision to shut down our bicycle business,” Gupta recalls. “Using bicycles for fun was not meeting our goals in the office.” This strategic shift allowed Yulu to focus on electric vehicles, solidifying its identity in a rapidly evolving market.
When Yulu started its journey in the electric ecosystem back in 2018, the landscape was quite different. “There were only a few players like Ather, no TVS, no Bajaj, no Ola,” Gupta reflects. The market was nascent and the need for a robust electric solution was evident. “We knew that to succeed, we had to invest heavily in R&D, and the complexity of our custom-made solutions was daunting,” he admits.
Yulu's Commitment To Gig Workers
One of the most significant shifts for YULU came in Q4 2022 when the company prioritized gig workers as a first-class product feature. This decision was rooted in a deep understanding of the evolving workforce. “Our first bold decision was to keep it an EV and not switch to petrol,” Gupta explains. This focus on electric mobility has positioned YULU as a champion of sustainable transport solutions for those who need them the most.
The gig economy is growing, and YULU recognises the pivotal role of these workers in urban landscapes. By providing them with reliable, efficient, and affordable transportation, YULU not only enhances their productivity but also contributes to a more sustainable future.
Building a Supportive Ecosystem
Co-founder and CEO, Amit Gupta attributes much of YULU’s success to the support from key industry figures. “We were fortunate to have Rajeev Bajaj on board. Within half an hour, he was convinced and extended his support,” Gupta recalls. This partnership was instrumental in advancing YULU’s manufacturing capabilities and R&D efforts. The collaboration reflects a broader trend in the industry where established players recognize the importance of supporting innovative startups.
The Road Ahead
As YULU continues to grow, Gupta remains focused on the future. “Our conviction and clarity about being in this for the long haul have driven our progress,” he asserts. The company is committed to maintaining its leadership in the EV sector by continually innovating and adapting to market needs.
YULU’s journey is not just about building electric vehicles, it is about creating a comprehensive ecosystem for urban mobility. “No company of our size and scale is there,” Gupta states proudly. “We are determined to pave the way for a sustainable future.”
