Magna enters the micromobility and battery swapping market

Magna International, a Canadian mobility technology company that builds sensor-based systems for cars like driver monitoring systems and advanced driver assistance systems (ADAS), is entering the micromobility market. The company invested $77 million in Yulu, an Indian shared micromobility operator, and plans to jointly launch a battery swapping service company.
Magna’s investment is part of Yulu’s $83 million Series B, in which Bajaj Auto also participated. Along with the funding, Magna will hold a seat on Yulu’s board of directors. Yulu’s latest round will help the co

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