New Delhi: Yuma Energy, the technology-powered battery-as-a-service (BaaS) company founded as a joint venture between Magna and Yulu, has completed 10 million battery swaps.
Yuma’s rapid growth makes it one of India’s largest and fastest-growing BaaS networks. With 125-plus Yuma stations clocking 800,000 swaps per month – at an average of 15 swaps per minute – the company has achieved presence across its markets: Bengaluru, Mumbai, Navi Mumbai, Delhi-NCR and Gurugram, the company said.
In 2023, Yuma enabled 250+ million kilometers of green rides. This momentous milestone coincides with the first anniversary of the Bengaluru-headquartered company, which commenced operations in February last year, the company said in a media release.
“We are absolutely thrilled to have achieved the remarkable milestone of 10 million lifetime swaps. I am exceptionally proud that Yuma has established itself among leaders in the Indian BaaS industry, setting benchmark standards with 99% battery availability and a one-minute service time for our valued users. These achievements are a testament to the outstanding dedication of Yuma’s team, the strength of our technological infrastructure, and the invaluable collaboration with our business partners,” Muthu Subramanian, General Manager and Managing Director of Yuma Energy, said.
“The coming year will see Yuma striking multiple partnerships on the supply side – by adding OEMs and mobility operators – as well as on the distribution side, where we will go for intelligent and data-driven expansion of our swapping stations. We see a key role for Yuma in building the BaaS category in India and will focus on taking our high-tech charging and swapping solutions to a larger set of OEMs and end users,” he added.
