Strategic Analysis of Battery Swapping for Electric Three-Wheelers (E3Ws) in India

Strategic Analysis of Battery Swapping for Electric Three-Wheelers (E3Ws) in India

Collaborations, Technology Advancements, and Government Support will Boost the Battery Swapping Market in India

RELEASE DATE
29-Sep-2023
REGION
South Asia, Middle East & North Africa
Deliverable Type
Market Research
Research Code: PF2F-01-00-00-00
SKU: MX_2023_173
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Description

In the last few years, the push for sustainable mobility worldwide has become a priority, considering the deterioration of climatic conditions because of increasing CO2 levels. India is one of the largest electric three-wheeler markets and plays a significant role in this evolution. Electric vehicle stakeholders should focus on reducing the carbon footprint, offering easy and practical charging solutions to consumers to overcome their range anxiety while creating growth opportunities that can help India's sustainable mobility growth. However, India’s underdeveloped charging infrastructure has been one of the major challenges to the faster adoption of electric vehicles (EVs) in the country.

To overcome this challenge, market stakeholders have turned to battery swapping solutions, which can be a quick and easy way to recharge batteries by swapping the drained batteries with fully charged ones. This solution is majorly useful for the electric two and three-wheelers in the country as they require 1 or 2 batteries to be swapped. Further, the Government of India is encouraging battery swapping solutions as a way forward for light electric vehicles in India by drafting a battery swapping policy, which is yet to be implemented officially to accelerate the electrification of light electric vehicles in the country.

This report discusses Battery-as-a-Service, the business models under it, the Indian government's policy draft, the country’s competitor landscape of battery swapping service for electric three-wheelers, and market growth opportunities.

Author: Shraddha Ramdas Manjrekar

Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on Battery Swapping Solutions for E3Ws

Growth Opportunities Fuel the Growth Pipeline Engine™

Growth Drivers

Growth Restraints

Battery Swapping Solutions for Electric Three-wheelers in India

Key Challenges of Traditional Charging

Need for Battery Swapping in India

Benefits of Battery Swapping Technology: OEMs and Swapping Station Perspectives

Battery Swapping Solution Ecosystem

Innovative Technologies: Impact on the Battery Swapping Infrastructure and E3W Market

Battery Swapping Infrastructure: Key Market Player Competitive Analysis

Battery Swapping Infrastructure: Key Market Player Future Goals

Investment Scenario for Battery Swapping Infrastructure in India for E3W

Battery Smart

Sun Mobility

RACE Energy

VoltUp

Chargeup

Honda (HEID)

Battery Swapping Network of Key E3W Service Providers Across India

Battery Swapping: Battery-as-a-Service (BaaS)

Swapping Service Usage Types

Battery Swapping: BaaS Subscription Model

Battery Swapping: BaaS Pay-per-swap Model

Battery Swapping Policy Draft India 2022–2023: Key Proposals

Battery Swapping Policy Draft India 2022–2023: Safety Norms

Battery Swapping Policy Draft India 2022–2023: Key Goals

Growth Opportunity 1: Government EV Policies

Growth Opportunity 1: Government EV Policies (continued)

Growth Opportunity 2: Investments in Battery Swapping Start-ups

Growth Opportunity 2: Investments in Battery Swapping Start-ups (continued)

Growth Opportunity 3: Last-mile Delivery Services

Growth Opportunity 3: Last-mile Delivery Services (continued)

List of Exhibits

Legal Disclaimer

In the last few years, the push for sustainable mobility worldwide has become a priority, considering the deterioration of climatic conditions because of increasing CO2 levels. India is one of the largest electric three-wheeler markets and plays a significant role in this evolution. Electric vehicle stakeholders should focus on reducing the carbon footprint, offering easy and practical charging solutions to consumers to overcome their range anxiety while creating growth opportunities that can help India's sustainable mobility growth. However, India’s underdeveloped charging infrastructure has been one of the major challenges to the faster adoption of electric vehicles (EVs) in the country. To overcome this challenge, market stakeholders have turned to battery swapping solutions, which can be a quick and easy way to recharge batteries by swapping the drained batteries with fully charged ones. This solution is majorly useful for the electric two and three-wheelers in the country as they require 1 or 2 batteries to be swapped. Further, the Government of India is encouraging battery swapping solutions as a way forward for light electric vehicles in India by drafting a battery swapping policy, which is yet to be implemented officially to accelerate the electrification of light electric vehicles in the country. This report discusses Battery-as-a-Service, the business models under it, the Indian government's policy draft, the country’s competitor landscape of battery swapping service for electric three-wheelers, and market growth opportunities. Author: Shraddha Ramdas Manjrekar
More Information
Deliverable Type Market Research
Author Shradha Manjrekar
Industries Cross Industries
No Index No
Is Prebook No
Keyword 1 Battery Swapping For E3Ws
Keyword 2 Battery Swapping Solutions
Keyword 3 E3W Market Dynamics
Podcast No
WIP Number PF2F-01-00-00-00