Establishing a joint venture between Canada-headquartered Magna and Yulu, a leading shared electric micro-mobility player, Yuma Energy (Yuma) has revealed its plans to establish a next-generation battery charging and swapping network for electric two-wheelers in India.
The JV has already 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 end-2023.
The company says the 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 mobility operators to enable reliable, convenient and efficient access to battery swapping to their customers.
Matteo Del Sorbo, Executive VP and Global Lead for New Mobility, Magna said, “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.”
Amit Gupta, Co-founder & CEO, Yulu said, “This is a very special moment as Yuma Energy starts its journey with the launch of its Battery-as-a-Service (BaaS) 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.”
Headquartered in Bengaluru Yuma Energy employs more than 250 people 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.
