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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...
