Yulu, the largest provider of shared electric mobility-as-a-service (MaaS) in India, recently received loan approval from the US International Development Finance Corporation (DFC), which is dedicated to promoting A development finance institution (DFI) of the US government. Economic growth in emerging markets around the world
Through its newly formed e-mobility financing team, the US International Development Finance Corporation (DFC) has proposed an investment in Yolo, the organization’s focus on clean and zero-emission transportation options in India. . In this transaction, Yolo and DFC agreed to a commitment letter for a $9 million (73 crore) loan, and the amount to Yolo for green last-mile replication for people movement and package delivery. And will help you get closer to your goal of allowing movement. Services
Official statement
Anuj Tiwari, Chief Financial Officer, Yolo (Bikes Pvt Ltd) said, “As the market leader in electric mobility, Yolo has met the first last mile mobility needs of millions of customers. Yolo is the United Nations Sustainable Development Goals. achieved 6 of the targets, and has successfully built a clean mobility business in India based on positive economics. This financing from an organization like DFC is a testament to their belief in YOLO’s vision and It speaks to the potential for mass action, not only to create green mobility alternatives but also to create livelihoods through direct and indirect employment opportunities. We are quite excited.”
Role of Yolo in India
Yulu has provided an efficient, sustainable, and cost-effective mobility solution that has allowed tens of thousands of delivery executives to enter the workforce and increase their bottom line. To date, 75 million or more eco-friendly deliveries have been made using Yulu EVs, and the business has reduced CO2 emissions by 15,000 metric tons. In collaboration with local and traffic authorities, the company has also developed a special social and professional development program for delivery executives called “Safe Rider”. The initiative trains delivery executives from several top delivery companies in Bengaluru and Delhi and aims to increase their awareness of traffic safety.
Also Read: Yolo to create 7000+ jobs in Karnataka
About Yolo
Yolo was founded in 2017 by veteran and serial entrepreneurs with the aim of making urban travel clean, inclusive and sustainable. It is India’s largest combined EV mobility and battery conversion firm. With the support of Yulu Energy, India’s largest AI-powered battery-as-a-service (BaaS) platform, Yulu has been launched in Bengaluru, Mumbai, and Delhi-NCR as urban mobility-a -offers a service (MaaS). Its users basically unlimited range.