Magna International is putting fresh capital behind Yuma Energy, the Indian battery-swapping venture it co-owns with shared-mobility operator Yulu. The $35.0M infusion deepens the automotive supplier’s bet on the country’s two-wheeler electrification push.
Yuma Energy runs what it calls the largest Battery-as-a-Service platform in India for two-wheelers, with a network of more than 85 swapping stations. The company positions itself as an Energy-as-a-Service provider focused on making urban transport carbon-free, and the new funding arrives as demand for quick, reliable battery exchange grows alongside electric scooter adoption.
