Yulu Opens Nashik EV Delivery Service With 100 DeX Two-Wheelers and Approach Auto Mobility

Yulu launched its Yulu Business Partner service in Nashik, Maharashtra, with 100 DeX electric two-wheelers operating from a Yulu Centre in Rajiv Nagar, the company said on October 29, 2026, as Autocar Professional reported. The Bengaluru-based electric mobility company runs battery-swapping-backed two-wheeler fleets for delivery partners and commuters.

Yulu's Nashik Rollout With Approach Auto Mobility

The rollout is a partnership with Approach Auto Mobility, led by entrepreneur Jai Dhanani, and starts in Rajiv Nagar before expanding across Nashik and surrounding areas as demand develops. Nashik is Yulu's second market in Maharashtra after Mumbai and its ninth franchise-led operation launched over the past two years. It is Yulu's 13th city of operation, alongside directly operated markets of Bengaluru, Mumbai, Delhi-NCR and Hyderabad and franchise-led operations in Indore, Bhopal, Kochi, Tirunelveli, Madurai, Coimbatore, Kolkata and Chandigarh Tricity.

Yulu said Nashik has more than 25 operational dark stores and 1,500 high-volume restaurants, with city-wide deliveries doubling over the past year to around 25,000 a day. The offering includes electric two-wheelers, battery swapping through Yuma Energy and pricing plans covering energy, maintenance and insurance. Yulu claims delivery partners using its EVs retain 30-40% more earnings than petrol motorcycle users; the press release does not provide the methodology or underlying cost assumptions.

Approach Auto Mobility works on EV charging solutions, ride-sharing operations and battery-swapping franchises, including an existing battery-swapping partnership with Yuma Energy. Yuma Energy raised $35 million from Magna International to double its battery-swapping network, The Times of India reported on September 1, 2026, with more than 2,500 units across over 400 locations and more than 60 million swaps completed.

Yulu co-founder and CEO Amit Gupta said the company is expanding its franchise-led model into non-metro markets as quick-commerce and on-demand delivery services grow. Dhanani said the partnership would focus on lowering delivery partners' operating costs and providing a fleet for businesses requiring delivery services.

Yulu's $93 Million Series C and IPO Plans

Yulu raised $93 million in a Series C round, comprising $63 million in equity and $30 million in debt, Fortune India reported in September 2026, with its fleet covering 2.4 billion km and facilitating over 750,000 daily deliveries. Zag Daily reported in August 2026 that the round would expand Yulu's e-mobility fleet from 50,000 to 200,000 vehicles over two years. Autocar Professional reported in August 2026 that Yulu is preparing an initial public offering supported by the $93 million fundraise, targeting revenue of ₹1,200-1,500 crore and profitability next year.

Yulu's Next Steps in Nashik

The companies plan to expand the service beyond Rajiv Nagar into Nashik city and nearby areas as demand develops, according to the October 29, 2026 announcement.