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

TVS Motor Company, a leading two- and three-wheeler manufacturer, has launched the updated TVS Apache RTR 160 4V at INR 139,000.

The TVS Apache RTR 160 4V is powered by a 159.7cc, oil-cooled, fuel-injected, 4-valve, which produces 17.55 PS at 9,250 rpm and 14.73 Nm of torque at 7,500 rpm.

It comes with a segment-first 37mm Upside Down (USD) suspension and three ride modes — Sport, Urban, and Rain, which the company claims enhance control, stability, and adaptability across diverse riding conditions.

Like with most of the new models from the TVS Motor Co’s stable, the Apache RTR 160 4V now comes with TVS SmartXonnect technology, which provides Bluetooth connectivity, providing turn-by-turn navigation, call & SMS alerts, and voice assist.

In terms of design, the refreshed TVS Apache RTR 160 4V’s can be had in three colour options – Granite Grey, Matte Black, and Pearl White, which are complemented by sporty, race-inspired graphics, golden-finish USD forks, and red alloy wheels. 

Vimal Sumbly, Head of Business – Premium, TVS Motor Company, said, “We are proud to lead the way in engineering and innovation in motorcycles. With that commitment, we are excited to announce the upgrade of the TVS Apache RTR 160 4V with cutting-edge features and advanced technology. Built on a rich racing legacy, the TVS Apache Series proudly serves over 5.5 million enthusiasts, making it one of the fastest-growing premium motorcycle brands globally. We are committed to meeting the evolving needs of our customers by integrating performance, technology, and style. By constantly evolving in our set of offerings, we have set new benchmarks for performance motorcycles in India.”

KAW Veloce Motors Pvt Ltd (KVMPL) has unveiled the Brixton brand of motorcycles (600 cc and 1200 cc) and an e-scooter of the Italian brand Velocifero (VLF) called Tennis in Kolhapur, Maharashtra.

The unveiling of both the machines – the motorcycle with an ICE and the e-scooter with a battery and motor – at the Highland Club on the outskirts of the city took place amid much fanfare.

The Brixton motorcycle and VLF e-scooter – with an angular bodywork overall that is synonymous with Italian design culture and featuring a 2.1kW hub motor, and a range of 130 km – will be offered through the MotoHaus retail channel, the first outlet of which is set to be commissioned in a few days from now in Kolhapur.

Both the two-wheelers – the e-scooter is priced at INR 1,30,000 ex-showroom – are being put together (from a CKD kit) at a plant that is about 12 km from the launch venue as part of the Phase I strategy. To be offered through MotoHaus outlets in cities Mumbai, Thane, Pune, Jaipur, Vapi, Goa, Bangalore, Chennai, Cochin, Nashik, Nagpur, Surat, Ahmedabad and Vadodara besides Kolhapur, the two vehicle brands are expected to be joined by a third Italian brand and an in-house electric two-wheeler brand at a later date.

Once the Phase I strategy plays out and the Bixton and VLF offerings find a footing in the Indian market, the company will embark on the Phase II strategy that will include a design and development centre at Kolhapur. The strategy will also include a manufacturing plant that can do 25,000 units and enable the engineering of a robust supply chain in terms of localisation.

It is at the Phase II level that investments from Brixton Motorcycles (Austria) and VLF are expected to come into the venture, which is initially supported by the parent company of KAW Veloce.

TVS Motor Company-owned British premium motorcycle brand Norton Motorcycles, has announced changes to its leadership structure.

The company has announced Dr. Robert Hentschel, currently CEO, will step back from his role effective immediately. He will transition to a non-executive director role within the company.

On the other hand, Nevijo Mance will join Norton Motorcycles as Executive Director, overseeing all upstream business operations, as part of the new leadership structure.

He will be responsible for product design, development and engineering, manufacturing, procurement, quality control, and supply chain management.

In addition, Richard Arnold, who was appointed Executive Director in June 2024, will be responsible for downstream business operations, including marketing, brand management, sales, distribution, customer relationship management, aftersales service, product management, and public relations.

He will also be responsible for enhancing customer experience, expanding Norton’s market reach, and strengthening the brand’s presence across global markets.

Dr Rober had been leading the company since 2021, and has been instrumental in strengthening Norton’s foundations, guiding the company through crucial stages of its growth plan and establishing a strong operational base. He had played a key role in synergistic relationship with parent TVS Motor Company, which has been pivotal in advancing Norton’s progress and setting the stage for future success.

TVS Motor Company (TVSM), a global manufacturer of two- and three-wheelers, has announced the date and venue for the fourth edition of its TVS MotoSoul festival. The two-day festival will be held at Vagator, Goa, on 6 and 7 December 2024 with a focus on eco-friendly branding and sustainable practices.

Riding on this year’s theme of ‘Feel the Adrenaline, Feel the Inspiration, Feel the Groove’, TVS MotoSoul 4.0 is expected to draw visitors not only from India but also from other countries where the company has a presence. The two-day event promises attractive sessions like culinary experiences, wellness and personal care sessions, bike trips and tricks sessions and community and bonding sessions, as well as live music performances by top artists. The festival will provide attendees with a chance to participate in motorsports including dirt track racing, stunt shows and flat track challenges. Additionally, the attendees will be able to interact with race champions, riding experts and motorcycling legends.

Vimal Sumbly, Head of Business – Premium, TVS Motor Company, said, “TVS MotoSoul is a mark of the motorcycling spirit. It celebrates the bond between man and machine. Each edition has not only grown in scale but has also deepened this connection among enthusiasts. Our commitment goes beyond just motorcycles; we are devoted to nurturing a thriving ecosystem of riders. As we gear up for TVS MotoSoul 4.0, we are excited to redefine the journey with extraordinary experiences, all wrapped in a vibrant and colourful theme that captures the free-spirited essence of our community. We are confident that our mission to democratise these experiences will lead to one of the most exhilarating celebrations of riders and their journeys at TVS MotoSoul 4.0.”