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India's Yulu Bikes in talks with Canada's Magna to raise funds for new battery entity

India's Yulu Bikes in talks with Canada's Magna to raise funds for new battery entity

Photo: Yulu Bikes's Facebook

Electric mobility startup Yulu Bikes Pvt Ltd is in advanced discussions to raise significant capital from Canadian auto parts maker Magna International for Yulu Energy Pvt Ltd, a newly-formed entity for managing its two-wheeler battery charging and swapping business, DealStreetAsia has learnt.

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