The company plans to invest ₹200 crore in a network of electric vehicle battery swapping stations, creating jobs and supporting sustainable transportation solutions in major cities throughout the state.
25 Oct 2024 | 3789 Views | By Autocar Professional Bureau
Yuma Energy has entered Noida, Uttar Pradesh, with plans to establish a network of electric 2- and 3-wheeler battery swapping stations over the next three years. The company aims to expand its operations to major cities in Uttar Pradesh, including Lucknow, Kanpur, Ghaziabad, and Varanasi. To facilitate this expansion, Yuma ...
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Yuma Energy has entered Noida, Uttar Pradesh, with plans to establish a network of electric 2- and 3-wheeler battery swapping stations over the next three years. The company aims to expand its operations to major cities in Uttar Pradesh, including Lucknow, Kanpur, Ghaziabad, and Varanasi. To facilitate this expansion, Yuma Energy has signed a memorandum of understanding (MoU) with Invest UP, committing to invest ₹200 crore in the state. This initiative is expected to create 500 direct jobs and support livelihoods for up to 100,000 people.
Currently, Yuma Energy performs nearly 1.5 million battery swaps monthly across India. The company's battery swapping services will provide a quick alternative to traditional charging, with a swap time of approximately one minute.
Muthu Subramanian, General Manager and Managing Director of Yuma Energy, stated that Uttar Pradesh is a leader in e-mobility, particularly in the 3-wheeler segment, due to its favorable policy environment.
Prathamesh Kumar, Additional Chief Executive Officer of INVEST UP, expressed support for Yuma Energy's initiative, highlighting its potential contribution to the state's EV infrastructure and sustainable development goals. He focused on the role of INVEST UP in assisting companies navigate regulatory frameworks for smoother service rollouts.
Subramanian also noted that the launch in Noida addresses the demand for energy solutions in a city experiencing rapid EV adoption. Yuma Energy’s Battery-as-a-Service (BaaS) system features smart batteries and a connected network, designed to enhance safety and maximize vehicle lifespan. The efficient operations aim to ensure batteries are readily available, allowing users to swap batteries quickly and return to their activities.