Magna increases bet on battery swapping in India with $35M for Yuma

Magna has increased its investment in battery swapping services in India. The automotive supplier has committed $35 million to Yuma Energy. This funding aims to support the expansion of Yuma Energy operations. Battery swapping is becoming an essential part of the electric vehicle ecosystem in India. The investment highlights growing interest in alternative refueling infrastructure. Yuma Energy focuses on providing efficient solutions for electric two-wheelers. Market participants continue to monitor investments in sustainable transportation. Further developments will depend on the adoption rate of electric vehicles in the region.