MAGNA AND YULU LAUNCH YUMA ENERGY- BATTERY SWAPPING NETWORK FOR ELECTRIC TWO-WHEELERS
Yuma Energy, a joint venture between Magna and Yulu, is a tech-driven Energy-as-a-Service company
Yuma’s Battery-as-a-Service (BaaS) network supports Yulu’s fleet and will be available to other OEMs and mobile operators
Plans to grow from 85 to 500+ stations across the country by end of 2023
Yuma Energy (Yuma), a joint venture between Magna, one of the world’s largest automotive suppliers, and Yulu, India’s largest shared electric micro-mobility player, showcased today its next-generation battery charging and swapping network for electric two-wheelers in India.
Yuma has established a network of more than 85 Yuma Stations across Bangalore, Mumbai, and Delhi, and plans to scale to over 500 stations across multiple cities by the end of 2023. Yuma Stations are densely located in high-demand areas and are equipped with integrated AI-powered charging units that are more connected, efficient, reliable, and safe.
The Yuma network will not only support the rapidly growing electric two-wheelers fleet of Yulu but will also be available to other OEMs and mobile operators to enable reliable, convenient, and efficient access to battery swapping for their customers.
“We are very excited to see Yuma Energy come to life and contribute to a more sustainable future in urban mobility,” said Matteo Del Sorbo, Magna Executive Vice President, and Global Lead for New Mobility. “The launch of Yuma’s BaaS offering in India presents an opportunity for Magna to leverage our core competencies in engineering and manufacturing to capitalize on the rapid growth in the micro-mobility market globally.”
“This is a very special moment as Yuma Energy starts its journey with the launch of its Battery-as-a-Service network. We are excited to see Yuma Stations support Yulu Mobility’s needs and open up to more OEMs and mobility partners, offering their customers reliable and efficient access to energy.”
Yuma Energy is headquartered in Bengaluru and has approximately 250 employees currently in Delhi, Mumbai, and Bengaluru. Its AI-powered tech stack, supply chain expertise, and market understanding give it a unique and competitive position in the BaaS market.
We are an Energy-as-a-Service company on a mission to build a sustainable future where transportation is accessible, affordable, and carbon-free. Backed by mobility technology company Magna and India’s largest shared electric micro-mobility player, Yulu, we offer the largest Battery-as-a-Service (BaaS) platform in India for two-wheelers. Our nationwide network of more than 85 swapping stations is helping redefine urban mobility with reliable, convenient, and efficient access to energy.
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