Yuma Energy secures $35 million in funding from Magna to support expansion of its battery swapping network. The investment is intended to back the company’s next phase of growth and scale operations in the electric vehicle ecosystem.
According to the reports, Yuma plans to use the proceeds to grow its network, broaden its customer base, and strengthen the infrastructure and technology platform that underpins battery swapping services. The stated focus includes serving more EV users, as well as fleets, and continuing to work with OEM (original equipment manufacturer) partners.
The coverage aligns on the core deal terms—amount, investor, and the purpose linked to battery swapping expansion. Both outlets describe the same broad use of funds, emphasizing network growth and the scaling of operational capabilities rather than providing differing figures or additional dispute-related details.
