Yuma Energy, a joint venture between Magna and Yulu, has announced the completion of 10 million lifetime battery swaps in its first year of operations. The Battery-as-a-service (BaaS) company began operations in February 2023 and has turned into one of the biggest battery-swapping networks across the country. The company said that its battery-swapping stations execute over 800,000 swaps every month, which turns out to be 15 swaps every minute.
Yuma Energy has over 125 stations located in major cities, including Bengaluru, Mumbai, Delhi-NCR, Gurugram and more. The company further added that its swapping stations have enabled over 250 million kilometres of green rides.
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Speaking about the milestone, Muthu Subramanian, General Manager and Managing Director - 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. 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.”
“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 further.
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Yuma Energy's charging stations are IoT-enabled and come with smart batteries. The company also has an artificial intelligence-enabled technology stack and claims to have a 99 per cent battery availability rate, the best in the industry. Yuma says it has also strategically placed its touch points while the service time stands at one minute, along with a high uptime. The firm is now looking to enter newer cities, expanding its growth.
