How Yulu and Magna are building a better EV charging network in India
Delhi : Yulu, an Indian start-up offering electric mobility services, received a Rs 653 crore investment from Magna International, which has since given rise to Yuma Energy, a new BaaS (battery as a service) business.
Network for recharging and exchanging batteries at Yuma Energy: details
In India, Yuma Energy has demonstrated their cutting-edge network for swapping and charging batteries for electric two-wheelers, with 85 such stations already installed in Bengaluru, Mumbai, and Delhi. By the end of 2023, it intends to expand the network to 500 stations throughout several cities.
While Yuma swap stations serve Yulu's e-bike fleet in these locations, they also aim to provide other OEMs and e-mobility operators with dependable, practical, and quick access for their consumers to battery switching.
Yulu will increase its fleet to 1 lakh e-bikes by the end of 2023
Yulu, a significant participant in India's last-mile delivery enablement market and Yuma Energy's top client, plans to rapidly expand its vehicle fleet to 1 lakh e-bikes by the end of the year.
"Yulu is currently our anchor customer, and they are focused on platforms for personal and shared mobility as well as last-mile delivery. We will be able to provide switching solutions for other use cases as we scale our network. That is currently being developed, and we aim to introduce it soon, according to Matteo Del Sorbo, executive vice-president of Magna International.
Yuma Energy has unveiled these new exchange stations together with what it refers to as its 48V, lithium-iron-phosphate (LFP) cell battery of the next generation, which is being made in Pune. Although prospects for cell producers to localise lithium-ion cells in the nation will be determined by quantities and scale, Yuma Energy claims it is continually seeking to increase the effectiveness and cost-competitiveness of its batteries.