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

While battery swapping has struggled to take off in much of the world, Canadian auto parts giant Magna International believes the model could work at scale in India, where millions of two- and three-wheelers and a fast-growing delivery economy create a different set of economics. And it’s placing that bet on Yuma Energy, a Bengaluru-based firm that operates a battery-swapping network for electric two- and three-wheelers.

3 days ago

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