Yuma Energy, a leading battery-as-a-service (BaaS) company formed as a joint venture between Yulu and Magna, marks its first anniversary with a milestone of completing 10 million lifetime battery swaps. Launched in February 2023 with a commitment to a sustainable future, the company currently employs over 500 people across five cities.
Yuma’s swapping network facilitates 800,000 swaps monthly, averaging 15 swaps per minute, maximising business throughput and user convenience. With a presence in Bengaluru, Mumbai, Navi Mumbai, Delhi-NCR, and Gurugram, Yuma has enabled over 250 million kilometers of green rides in 2023.
Muthu Subramanian, General Manager and Managing Director of Yuma Energy, speaking on the achievement said, "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."
Yuma plans to expand partnerships with OEMs and mobility operators in 2024, focusing on intelligent and data-driven expansion of swapping stations to broaden accessibility to high-tech charging and swapping solutions.