Yuma Energy Secures $35 Million to Accelerate EV Adoption in India

Overview of the Funding

Automotive parts giant Magna International has invested $35 million in Yuma Energy, a battery-swapping platform operating in India. This investment aims to expand infrastructure for India's rapidly growing electric mobility market.

About Yuma Energy

Yuma Energy is a platform company providing battery-swapping services for electric scooters and other vehicles across India. By deploying a nationwide network of swappable battery stations tailored to local transportation needs, the company offers solutions that reduce vehicle purchase costs and minimize charging times.

Purpose of Funding and Future Outlook

The newly raised capital will be primarily allocated toward expanding the network of battery-swapping stations and strengthening technological development. As India is one of the world's fastest-growing markets for electric two-wheelers, Magna aims to eliminate "charging wait times"—one of the biggest infrastructure bottlenecks—through its partnership with Yuma, thereby accelerating the shift toward electrified mobility.

Investors

• Magna International