Magna, Yulu‘s Joint Venture Yuma To Setup Battery Swapping And Charging Network In India

Yuma is a new joint venture in between Magna Inc and Yulu created to operate a network of battery charging and swapping stations for electric two-wheelers throughout the place. Magna Inc is a Canadian provider of automotive parts although Yulu is a player in the Indian electric powered micro-mobility house. Yuma is headquartered in Bangalore and at the moment has 250 employees in Delhi, Mumbai, and Bengaluru.

Yuma stations will feature integrated AI-run charging models that purpose to strengthen safety for prospects. The firm mentioned that the enterprise would not only be offered to Yulu’s electric powered fleet but also to other OEMs and mobility operators.

A person of Yulu’s products and solutions

“The start of Yuma’s BaaS presenting in India offers an chance for Magna to leverage our core competencies in engineering and manufacturing to capitalize on the rapid growth in the micro-mobility market place globally.” said Matteo Del Sorbo, Executive Vice President, Magna Inc.

At this time, it has established a community of additional than 85 electric Stations throughout cities like Bangalore, Mumbai, and Delhi, and mentioned that it has programs to scale to more than 500 stations throughout many cities by the close of 2023.

Talking about the venture, Amit Gupta, Co-founder & CEO, Yulu said, “This is a pretty specific minute as Yuma Strength begins its journey with the start of its Battery-as-a-Support network. We are thrilled to see Yuma Stations help Yulu Mobility’s needs and open up to additional OEMs and mobility partners, giving their clients reliable and productive entry to power.”