On Thursday, Bajaj Auto said that it had increased its investment in Yulu Bikes, a platform for renting out electric bikes, by ₹45.75 Crore.
According to a regulatory filing by Bajaj Auto, following the new investment, the company’s stake in Yulu Bikes is 18.8% of the paid-up equity share capital of the electric bike-sharing network.
In an effort to encourage the use of electric vehicles in India, Bajaj Auto declared in 2023 that it would invest $8 million, or around ₹66 Crore, in Yulu.
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