Magna has invested $35 million in Yuma, an Indian startup focused on battery swapping technology for electric vehicles. The funding round, announced on August 31, 2026, aims to accelerate Yuma's expansion in India’s growing EV market and enhance its battery swapping infrastructure.
The investment was part of a strategic funding round led by Magna, a global automotive supplier. Yuma plans to use the capital to scale its battery swapping stations across multiple Indian cities and improve its technology platform. The company’s CEO highlighted the partnership with Magna as a key step in advancing sustainable mobility solutions in India, enabling faster and more convenient EV charging options.
Battery swapping is emerging as a critical solution to address charging time and infrastructure challenges in India's electric vehicle sector. Yuma’s approach competes with traditional charging stations by offering quick battery replacement, which can significantly reduce downtime for EV users. Magna’s investment underscores the increasing interest from global automotive players in India’s EV ecosystem, following similar moves by other multinational firms targeting the country’s clean energy transition.
Yuma’s latest funding round brings its total capital raised to over $50 million, positioning it among the leading battery swapping startups in India. The company aims to launch new swapping stations in at least five major cities by the end of 2026, expanding its network to support the country’s accelerating electric two- and three-wheeler markets.