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Magna invests $77M in Yulu; creates battery-swapping service company

Magna is expanding into the fast-growing micromobility market by investing $77 million in Yulu, India’s largest electrified shared mobility provider, and creating a battery-swapping service company. Yulu deploys shareable, low-speed, electric two-wheelers to facilitate accessible, sustainable urban mobility in India. As part of the agreement, Magna will have a stake. ....

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