Yuma Energy completes 10 million battery swaps in one year of operations
- Yuma has over 125 stations battery-swapping stations located in major metros including Bengaluru, Mumbai, Delhi-NCR, Gurugram and more.
Battery-as-a-service (BaaS) company, Yuma Energy, a joint venture between Magna and Yulu, has announced it has completed 10 million lifetime battery swaps in its first year of operations. The company began operations in February 2023 in Bengaluru and has grown to one of the largest BaaS networks across the country. Yuma has over 125 stations battery-swapping stations located in major metros including Bengaluru, Mumbai, Delhi-NCR, Gurugram and more.
Yum Energy said that its battery-swapping stations execute about 800,000 swaps every month, which averages to about 15 swaps per minute. The company also said that its swapping stations enabled over 250 million kilometres of green rides.
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Speaking about the first year of operations, Muthu Subramanian, General Manager and Managing Director of Yuma Energy, said, "We are absolutely thrilled to have achieved the remarkable milestone of 10 million lifetime swaps. 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."
Speaking about future growth, Muthu Subramanian said, “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 Energy says its success is a result of IoT-enabled charging stations and smart batteries. The company also has an artificial intelligence-enabled technology stack; and a best-in-industry 99 per cent battery availability rate. Moreover, Yuma’s touchpoints are located in key areas, along with a service time of one minute alongside a high uptime. Yuma currently employs over 500 people across five cities, which is set to grow as the firm enters newer markets.
