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Magna enters micro mobility market: Invests in Yulu and creates Battery-Swapping business
Mobility technology company Magna is expanding into the fast-growing micromobility market by investing $77 million in Yulu, India’s largest electrified shared mobility provider, and creating a battery-swapping service company. Yulu deploys shareable, low-speed, electric two-wheelers to facilitate accessible, sustainable urban mobility in India. As part of the agreement, Magna will have a stake in the company and will hold a seat on Yulu’s board of dir...
Yulu, India’s market leader in shared electric 2 wheeler Mobility-as-a-Service (MaaS) and Battery-as-a-Service (BaaS) businesses, today entered a Memorandum of Understanding (MoU) with the Government of Karnataka re-affirming its commitment to the electric mobility ambition of the State. The MoU was signed by Mr R K Misra, Co-Founder, Yulu, in the presence of the Honorable Chief Minister of Karnataka Shri Basavaraj Bommai, Union Minister for Finance and Cor...
Yulu, India’s largest shared electric mobility company, opened the bookings of its 1st personal electric two-wheeler Yulu Wynn – India’s 1st electric 2-wheeler for easy-mobility. Launched at a limited-period introductory price of Rs 55,555, bookings for Yulu Wynn can be made online at just Rs 999 (fully refundable). Deliveries will commence from mid-May. After the introductory period, Wynn will be available at a price of Rs 59,999. Wynn is born out of years of u...
10M Swaps and counting: Yuma ends First Year on an Electrifying note
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 800,0...
