Yuma Energy Raises $35 Million to Expand EV Battery-Swapping Network

Indian battery-swapping company Yuma Energy has raised $35 million from Magna International to expand its battery-swapping infrastructure across India. The funding is expected to support network expansion, technology development and wider adoption of electric mobility.

Battery swapping can reduce the waiting time associated with conventional EV charging, particularly for commercial two-wheelers and other high-usage electric vehicles. The latest investment highlights the growing interest in India's electric mobility infrastructure and the potential for battery-as-a-service models.

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