$35 Million Funding Backs Yuma Energy’s Battery Swapping Expansion Across India

Series A investment from Magna International follows more than 60 million battery swaps as Yuma Energy plans wider infrastructure, customer and market expansion

Yuma Energy has raised $35 million in Series A funding from Magna International Inc. to expand its battery swapping infrastructure and operations across India.
The investment comes as Yuma Energy reports completing more than 60 million battery swaps through its network.
The company currently has more than 100,000 batteries on ground, supported by over 2,500 charging units across more than 400 touch points in 18 cities.
Yuma Energy said the new capital will be used to expand its battery swapping network into additional markets and serve a wider range of electric vehicle users, fleet operators and original equipment manufacturer partners.

The company is also working towards achieving positive EBITDA operations by FY27.
As part of this growth plan, Yuma Energy intends to continue investing in the infrastructure and technology supporting its battery swapping operations, with a focus on availability and reliability for riders, fleets and OEM partners.
The investment will also continue the collaboration between Yuma Energy and Magna as the companies focus on battery swapping infrastructure for India’s electric two wheeler and three wheeler market.

“This investment is a strong vote of confidence in Yuma Energy’s mission to make battery swapping the backbone of electric mobility in India. Crossing 60 million swaps was a defining moment for us, and with Magna’s support, we’re accelerating our infrastructure rollout and deepening our partnerships with Fleets & OEMs to make swapping the default choice for every electric two and three wheeler on Indian roads,” said Mr. Muthu Subramanian, MD & GM of Yuma Energy.
The company sees battery swapping as particularly relevant for electric vehicles with high levels of daily utilisation, where reducing charging related downtime can be an important operational consideration.

Matteo Del Sorbo, Yuma Energy Board Member and Group President at Magna, said the technology could contribute to wider adoption of electric mobility.
“Battery swapping plays an important role in making electric mobility more accessible, practical and scalable, particularly for high utilization two and three wheelers. Yuma Energy has demonstrated strong execution, operational excellence and a deep understanding of the needs of riders, fleet operators and OEMs across India,” Del Sorbo said.
He added that Magna would support Yuma Energy as it expands geographically and reaches a broader mix of customers.
With electric two wheeler and three wheeler adoption increasing across India, Yuma Energy plans to use the funding to expand access to its swapping infrastructure while increasing engagement with fleet operators and OEM partners.

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