BENGALURU :
Yuma Energy, the technology-powered battery-as-a-service (BaaS) company founded as a joint venture between Magna and Yulu, today announced the completion of 10 million lifetime battery swaps. This momentous landmark milestone coincides with the first anniversary of the Bengaluru-headquartered company, which commenced operations in February last year.
Yuma’s rapid growth makes it one of India’s largest and fastest-growing BaaS networks. With 125-plus 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 250+ million kilometers of green rides.
"We are absolutely thrilled to have achieved the remarkable milestone of 10 million lifetime swaps," said Muthu Subramanian, General Manager and Managing Director of Yuma Energy. "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."
At the heart of Yuma’s success is a combination of hardware, software, and operational excellence, which includes Yuma’s 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.
Muthu added that Yuma will build on its learnings to scale more ambitious peaks in 2024 and beyond: “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.”
Yuma was founded with a mission to build a sustainable future where energy is accessible, affordable, and carbon-free. The company currently employs over 500 people across five cities.
