Battery-swapping network for electric two- and three-wheelers in India
Yuma Energy is a Bengaluru-based battery-as-a-service company running a battery-swapping network for electric two- and three-wheelers. Launched in February 2023 as a joint venture between Magna International and Yulu, it designs and manufactures its own battery packs and charging units and serves EV riders, fleets and vehicle makers. It has reported more than 60 million swaps, about 100,000 batteries and over 400 touchpoints across 18 Indian cities. In 2026 it raised $35 million in a Series A from Magna International to expand its network and enter new cities such as Chennai and Pune.
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