Yuma Energy (Yuma) on Thursday launched 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 Bengaluru, Mumbai and Delhi.
Yuma Energy is a joint venture between leading automotive supplier Magna and shared electric micro-mobility player Yulu.
The JV 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 artificial intelligence (AI)-powered charging units that are more connected, efficient, reliable and safe, according to a statement from Yuma.
The statement said Yuma network will not only support the growing electric two-wheelers fleet of Yulu but will also be available to other original equipment manufacturers (OEMs) and mobility operators to enable reliable, convenient and efficient access to battery swapping to 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, Executive Vice President and Global Lead for new mobility, Magna. "The launch of Yuma's BaaS offering in India presents an opportunity for Magna to leverage our core competencies in engineering and manufacturing to capitalise on the rapid growth in the micromobility market globally."
Amit Gupta, Co-founder and 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."
Yuma Energy is headquartered in Bengaluru and has about 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 (battery-as-a-service) BaaS market.
( With inputs from ANI )
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