In a significant move to bolster its position in India’s clean energy and electric mobility sectors Yuma Energy a leading Battery-as-a-Service (BaaS) provider has acquired Chennai-based Grinntech Motors & Services Pvt. Ltd. This strategic acquisition aims to integrate Grinntech’s advanced energy storage solutions into Yuma’s operations accelerating the adoption of sustainable energy technologies across the country.
A Step Toward a Vertically Integrated BaaS Ecosystem
The acquisition will enable Yuma Energy to establish a vertically integrated BaaS ecosystem encompassing battery design, production, charging infrastructure, swapping networks, and digital customer solutions. By leveraging Grinntech’s expertise in battery management systems, research, and manufacturing, Yuma aims to enhance the performance, reliability, and safety of its energy solutions.
“This acquisition enhances our capabilities in battery management systems, research, and manufacturing,” said Muthu Subramanian, Managing Director & General Manager of Yuma Energy. “With Grinntech’s technology, we will continue to improve performance, reliability, and safety.”
A Partnership Built on Collaboration
Yuma Energy and Grinntech have been collaborating for over 18 months culminating in the recent launch of a jointly developed battery at the Bharat Battery Show in New Delhi in January 2025. This partnership has laid a strong foundation for the integration of Grinntech’s innovations into Yuma’s ecosystem.
Grinntech’s Expertise in Energy Storage Solutions
Founded in 2013 by IIT alumni Puneet Jain and Nikhilesh Mishra Grinntech specializes in lithium-ion battery solutions for electric vehicles (EVs) and industrial applications. The company is known for its fully integrated battery packs off-the-shelf solutions and custom-engineered systems with proprietary battery analytics.
“We are excited to join Yuma Energy and contribute to the evolution of battery technology,” said Puneet Jain, Co-founder of Grinntech. Nikhilesh Mishra, Co-founder, added, “Together, we will drive innovation and support India’s transition to a sustainable future.”
Strengthening India’s Electric Mobility Sector
With this acquisition, Yuma Energy is poised to strengthen its position in India’s rapidly growing electric mobility sector. The company plans to offer cutting-edge battery swapping, intelligent charging infrastructure, and digital management solutions, making clean energy more accessible and affordable.
Yuma Energy’s BaaS model has already powered over 20 million battery swaps and enabled more than 800 million kilometers of green journeys. Backed by global mobility leader Magna and India’s largest shared electric mobility company, Yulu, Yuma is committed to driving India’s transition to carbon-free transportation.
A Vision for a Sustainable Future
The integration of Grinntech’s high-performance, cost-effective, and safe energy storage systems will further enhance Yuma’s ability to deliver efficient and sustainable energy solutions. This acquisition aligns with Yuma’s mission to make mobility accessible, affordable, and sustainable while supporting India’s clean energy goals.
What’s Next?
As Yuma Energy and Grinntech join forces, the focus will be on scaling up production, expanding the battery-swapping network, and driving innovation in energy storage solutions. Together, the companies aim to play a pivotal role in shaping India’s electric mobility landscape and accelerating the adoption of clean energy technologies.
With this acquisition Yuma Energy is not only strengthening its market position but also contributing to a greener, more sustainable future for India.
