Magna & Yulu launch Yuma Energy

February 2, 2023
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Bengaluru, February 2, 2023:

Yuma Energy, a joint venture between Magna and Yulu, has unveiled its battery charging and swapping network for electric two-wheelers in India. The company has set up a network of over 85 Yuma Stations in Bangalore, Mumbai, and Delhi and plans to expand to over 500 stations in multiple cities by the end of 2023. The stations are equipped with AI-powered charging units and will not only support Yulu's growing electric two-wheeler fleet but also be available to other OEMs and mobility operators. 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.

Yuma Energy is based in Bengaluru and has around 250 employees in Delhi, Mumbai, and Bengaluru. With its AI-powered tech stack, supply chain expertise, and market knowledge, it is positioned to take advantage of the rapid growth in the BaaS (Battery-as-a-Service) market.

“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 micromobility 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 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.”

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