Magna increases bet on battery swapping in India with $35M for Yuma

Yuma Energy raises $35 million from Magna to expand battery swapping network

Battery swapping network Yuma Energy has raised $35 million in Series A funding from Magna International, as the company looks to expand its battery swapping infrastructure across India and work towards achieving EBITDA-positive operations by FY27.

Yuma Energy raises $35 million in Series A funding from Magna International

The Bengaluru-based company said the funding will be used to expand its battery-swapping infrastructure, enter new markets and widen its customer base across electric two- and three-wheelers.

Yuma Energy raises $35 million from Magna to scale battery swapping network

Yuma Energy has raised $35 million from Magna International to add batteries across its existing network and enter new cities. The battery-swapping JV is targeting Ebitda break-even by FY27.

Magna increases bet on battery swapping in India with $35M for Yuma

Magna's investment in Yuma Energy has reached $87 million as the Canadian auto supplier increases its majority stake in the Indian battery-swapping firm.

Magna International Invests $35M More in Yuma Energy Battery Swapping

Canadian auto parts giant Magna International is deepening its bet on India’s battery-swapping market with a $35 million investment in Yuma Energy, a Bengalu...