Yulu promises to invest Rs 1200 cr in Karnataka, will deploy 1 lakh EVs
Yulu, a leading micro-mobility service provider has signed a Memorandum of Understanding (MoU) with the Karnataka government promising an investment of rupees 1200 crore to deploy a fleet of 1 lakh EVs and operationalize an EV battery charging and swapping infrastructure in the State over the next five years.
The MoU, which was signed on Wednesday at the “Invest Karnataka Global Investors Meet” in Bengaluru, involves investments to be made in product innovation, new technology, and sustainable operations in addition to developing a workable and reasonably priced shared solution for urban mobility at scale.
