importantSYS.SOURCE: TechCrunch• 2026-09-01T05:00:00Z

Magna Invests $35M in Yuma Energy to Expand Battery Swapping Infrastructure in India

#electric vehicles #startups #investment #battery swapping #gig economy

Magna International has invested $35 million in Yuma Energy, a Bengaluru-based battery-swapping startup, to scale its operations in India's growing electric vehicle (EV) market. The investment targets India's gig economy, where battery swapping offers faster turnaround than charging, though the model remains capital-intensive.

Magna's investment in Yuma Energy has reached $87 million as the Canadian auto supplier increases its majority stake in the Indian battery-swapping firm.

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