HomeYulu and Other EV Startups To See Multi-Fold Growth in 2021

    Yulu and Other EV Startups To See Multi-Fold Growth in 2021

    Backed by the rising e-commerce, food deliveries and revival in the economy, electric vehicle startups in the shared mobility space are eyeing multi-fold growth this year.

    Micro-mobility startup Yulu, which is backed by Bajaj, saw a quick recovery in the Unlock 1.0 phase. They got their customers back on the system in Unlock 1.0 itself. People who were earlier using auto-rickshaws, taxis, and buses adopted Yulu.

    Earlier only the white-collar people used Yulu but now blue-collar workers and college students also are opting for last-mile connectivity.

    Apart from this, Yulu saw an additional business of 25%-30% because of the rise in demand from food delivery executives. The startup which was earlier operating 0-5km radius aims to develop new packages and products to cater to demand up to 10 km.

    Another Delhi-based startup that used to ferry passengers in the last-mile distances turned the pandemic into an opportunity. It was quick to launch its cargo business and use its existing resources for that. Smart E saw a steep rise in business due to the rise in e-commerce.

    The company recorded the highest revenues in February because of the rise in e-commerce. The rising fuel prices for traditional vehicles and the great consciousness of the corporations about a greener environment also helped the company.

    The revival of the economy has catalyzed growth as in the passenger segment recovery is much faster in the Tier-II cities.

    Similarly, Blu-Smart which operates in the electric cab business is seeing rapid growth in demand.

    Electric mobility is not growing in percentages but in how many times. Apart from the business revival, the panel members also discussed the challenges faced by them on the policy front and electric vehicle products.

    ETAuto EV Conclave 2021 spread over March 16 and 17 has the participation of government officials, industry leaders, experts, and technocrats.

    ELE Times News
    ELE Times Newshttps://www.eletimes.ai/
    ELE Times provides extensive global coverage of Electronics, Technology, and the Market. In addition to providing in-depth articles, ELE Times attracts the industry’s largest, qualified, and highly engaged audiences, who appreciate our timely, relevant content and popular formats. ELE Times helps you build experience, drive traffic, communicate your contributions to the right audience, generate leads, and market your products favorably.

    Related News

    Must Read

    Renesas Expands Sensing Portfolio with 3 Magnet-Free IPS ICs & Web-Based Design Tool

    New Simulation & Optimization Platform Enables Custom Coil Designs...

    IEEE IEDM, 2025 Showcases Latest Technologies in Microelectronics, Themed “100 Years of FETs”

    The IEEE International Electron Devices Meeting (IEDM) is considered...

    OMNIVISION Introduces Next-Generation 8-MP Image Sensor For Exterior Automotive Cameras

    OMNIVISION announced its latest-generation automotive image sensor: the OX08D20, 8-megapixel (MP) CMOS...

    Vishay Intertechnology Expands Inductor Portfolio with 2000+ New SKUs and Increased Capacity

    Vishay Intertechnology, Inc. announced that it has successfully delivered...

    Keysight to Demonstrate AI-enabled 6G and Wireless Technologies at India Mobile Congress 2025

    Keysight Technologies will demonstrate 20 advanced AI-enabled 6G and...

    Ashwini Vaishnaw Approves NaMo Semiconductor Lab at IIT Bhubaneswar

    As part of a big push towards the development...

    Electric Mobility Drives India’s Power Electronics Expansion

    India is on the verge of an electric revolution....

    India Targets 40% Local Value Addition in Electronics with New Component Scheme

    India's electronics manufacturing landscape is set for a major...