Bajaj Auto has invested $8 million in bicycle and electric scooter rental startup Yulu. As part of the deal, Bajaj is going to manufacture customized electric scooters for the Bengaluru-based startup. The automaker will also consider facilitating the vehicle finance needs of Yulu, through Bajaj Finserv. Yulu is a dockless, lithium-powered scooter mainly focusing on the sub- 5 km first- and last-mile connectivity, the same market which Ola-backed Vogo and Sequoia, Accel backed Bounce are also targeting.