Magna increases bet on battery swapping in India with $35M for Yuma
Magna has increased its majority stake in Indian battery-swapping firm Yuma Energy, bringing its total investment to $87 million as it deepens its commitment to the company and the broader electric mobility infrastructure market.
MAIN POINTS
- Magna has raised its investment in Yuma Energy to $87 million.
- The Canadian auto supplier now holds a larger majority stake in the Indian battery-swapping company.
- Yuma Energy operates in the battery-swapping segment of India’s electric mobility ecosystem.
- The move signals Magna’s continued expansion into clean transportation infrastructure.
TAKEAWAYS
- Magna is strengthening its position in an emerging EV-support business.
- Battery swapping remains an important infrastructure play in India.
- The investment suggests confidence in Yuma Energy’s growth potential.
- Auto suppliers are increasingly backing alternative energy mobility solutions.