Yuma Energy, the technology-powered battery-as-a-service (BaaS) joint venture between Magna and Yulu has announced the completion of 10 million lifetime battery swaps. This landmark milestone coincides with the first anniversary of the Bengaluru-headquartered company, which commenced operations in February last year.
The company says with over 125 Yuma stations clocking 800,000 swaps per month – at an average of 15 swaps per minute – the company has achieved impressive scale and presence across its markets: Bengaluru, Mumbai, Navi Mumbai, Delhi-NCR and Gurugram. In 2023, Yuma enabled over 250 million kilometres of green rides.
Muthu Subramanian, General Manager and MD, Yuma Energy said, “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.”
The JV states at the heart of Yuma’s success is a combination of hardware, software, and operational excellence, which includes its IoT-enabled charging units and smart batteries; its Artificial Intelligence-enabled technology stack; and a best-in-industry 99% battery availability rate at its swapping stations. These unique features, coupled with Yuma’s intelligent network of customer touchpoints, converge to ensure one-minute service time, as well as high uptime and reliability for Yuma’s users.
“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,” added Subramanian.
At present, the company employs over 500 people across five cities.
