This comprehensive report by research and markets delves into the innovative concept of Battery-as-a-Service, offering a detailed exploration of the associated business models and their wide-ranging implications. Additionally, it sheds light on the Indian government’s draft policy concerning battery swapping services for electric three-wheelers, providing valuable insights into the competitive landscape of this emerging market in India.
In recent years, there has been a global push for sustainable mobility to combat the adverse impacts of rising CO2 levels and climate change. India, being one of the largest markets for electric three-wheelers, is playing a pivotal role in this transformative journey.
To foster sustainable mobility and encourage electric vehicle adoption, stakeholders are concentrating on reducing carbon emissions and providing convenient charging solutions to address consumers’ range anxiety. However, the underdeveloped charging infrastructure in India has posed a significant challenge to the widespread adoption of electric vehicles.
In response to this challenge, the market has turned its attention to battery swapping solutions. These solutions offer a quick and convenient method of recharging by exchanging depleted batteries with fully charged ones. This approach is especially well-suited for electric two and three-wheelers, typically requiring one or two batteries to be swapped.
Furthermore, the Indian government is actively promoting the adoption of battery swapping solutions for light electric vehicles by drafting a comprehensive battery swapping policy. Although this policy is yet to be formally implemented, it is expected to expedite the electrification of light electric vehicles across the country.
Overall, this report offers invaluable insights into the evolving landscape of battery swapping services for electric three-wheelers in India and the promising growth opportunities it presents for stakeholders in the electric vehicle industry. Additionally, the report emphasizes the substantial growth potential within the battery swapping service sector for electric vehicles, particularly for three-wheelers