Magna International had earlier invested ₹653 crore in Indian electric mobility service start-up — Yulu. It has now spawned a new BaaS (battery as a service) company, named Yuma Energy.
Yuma Energy has showcased its next-generation battery charging and swapping network for electric two-wheelers in India, with 85 stations already set up in Bengaluru, Mumbai and Delhi. It plans to scale the network up to 500 stations in multiple cities by the end of 2023.
While Yuma swap stations cater to Yulu’s e-bike fleet in these cities, it will also target other OEMs and e-mobility operators to enable reliable, convenient and efficient access for battery swapping for their customers.
Yulu, which is a key player in the last-mile delivery enablement segment in India, is aiming to cale up its vehicle fleet to 1 lakh e-bikes by the end of the year.
With these new swap stations, Yuma Energy has introduced its next-generation 48V, lithium-iron-phosphate (LFP) cell battery which is being assembled in Pune. While volume and scale will determine opportunities for cell manufacturers to localise lithium-ion cells in the country, Yuma Energy says it is constantly working on improving the efficiency and cost competitiveness of its batteries.
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