Noida, October 24, 2024 – Yuma Energy, India’s leading technology-powered Battery-as-a-Service (BaaS) player, today launched its services in Noida, Uttar Pradesh (UP), with active support from INVEST UP, the Government of Uttar Pradesh’s premier investment promotion and facilitation agency. Yuma Energy’s foray in UP, beginning in Noida and expanding to other major cities such as Lucknow, Kanpur, Ghaziabad, and Varanasi, aligns with Uttar Pradesh’s forward-looking EV Policy, which aims to create a robust and sustainable electric mobility infrastructure.
With its intelligent swapping network and industry-leading standards for reliability and safety, Yuma Energy will provide EV drivers with a quick and seamless alternative to traditional charging, allowing for battery swaps in mere minutes, and drastically reducing waiting time. This will give further impetus to the adoption of electric vehicles (EVs) in the 2- and 3-wheeler segments, make them a more viable and efficient option for daily transportation and also help reduce carbon emissions throughout the state.
The company had also signed a memorandum of understanding (MoU) with INVEST UP. Through this MoU, Yuma Energy plans to invest ₹200 crore in building a state-of-the-art network of swapping stations across UP. In turn, Invest UP would facilitate discussions between the company and key stakeholders, including landowners and power distribution companies. This partnership is expected to create over 500 direct jobs and support up to 100,000 livelihoods for EV riders and drivers, contributing to the state’s goal of sustainable and inclusive socio-economic development.
“UP is a nationwide leader in e-mobility, especially in the 3-wheeler segment, thanks to its favourable policy environment and growing EV infrastructure,” said Muthu Subramanian, General Manager and Managing Director of Yuma Energy. “With industry benchmarks like a 99% station uptime and an average battery swap time of less than a minute, Yuma Energy is well-positioned to contribute to the state’s sustainable transformation by enhancing the availability of EV energy infrastructure. We are excited to support UP’s vision of balanced, inclusive, and sustainable development.”
Speaking on this important development, Shri Prathamesh Kumar, Additional Chief Executive Officer (ACEO) of INVEST UP said, “We are thrilled to support Yuma Energy’s decision to establish battery swapping stations across Uttar Pradesh, starting with Noida. As a facilitation body, INVEST UP’s role is to ensure that companies like Yuma Energy receive the guidance and assistance they need to navigate regulatory frameworks and establish a smooth rollout of their services. This initiative will contribute significantly to the state’s growing electric vehicle infrastructure, in line with the Government’s vision for sustainable development. INVEST UP is committed to promoting investments that drive innovation, create jobs, and foster sustainable development in Uttar Pradesh. We are here to support all stakeholders in their journey to make Uttar Pradesh a hub for cutting-edge green technology.”
Speaking about the Noida launch, Mr. Subramanian added, “Yuma Energy is thrilled to expand to Noida, our eleventh city. Rapid EV adoption in Noida has created a strong demand for smart energy solutions to power green commutes and logistics. Yuma Energy will address this need with our technology-driven battery swapping solutions and dense networks, reliably meeting the energy needs of 2- and 3-wheeler EV riders, fleet operators, and original equipment manufacturers (OEMs) in this fast-growing city.”
Yuma Energy’s BaaS system incorporates smart batteries, charging units, and a connected, data-driven network. The company’s lithium batteries are designed to improve passenger and vehicle safety while maximising vehicle lifespan. In addition, Yuma Energy’s efficient on-ground operations ensure that batteries are readily available to customers. This allows users to swap their EV batteries and return to work within minutes, thereby increasing their earnings.