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Last Updated: Apr 25, 2025 | Study Period: 2024-2030
Power supply substituting for powered mobility, the charging method wherein a rapidly depleting battery is supplanted with a full battery one, is expected to be an increasing and potentially successful enterprise in the coming decades.
Rechargeable batteries simply switching is regarded as a viable solution to India's Recharging issues. In India, more than 50 start-ups are energetic in this interior. A conglomerate of leading two-wheeler manufacturers has formed to develop replaceable battery motorcycles.
Numerous state and local governments have launched battery swap measures with significant financial incentive schemes. This innovation, nevertheless, has restrictions.
The main challenge would be that the replacing architecture would necessitate collaboration between automobile manufacturers on communized automobiles and rechargeable batteries. Battery swapping technique provides a car's extremely tired battery or rechargeable battery to be replaced with a fully charged one.
It can reduce the amount of time having waited for the car's power supply to replenish while also increasing available run time. Furthermore, when particularly in comparison to charging points, battery swapping terminals provide such a quicker response to range anxiousness and require considerably less space to configure.
The BSS functions as a battery aggregator, providing the transportation system for a multitude of battery packs to be charged and charged battery packs to be made accessible to EV drivers.
| Sl.no | Timeline | Developments |
| 1 | Q4-2021 | US based startup, Ample raised $30 million funding with $890 million valuation to expand its battery swapping business to Europe by partnering with Uber. |
| 2 | Q4-2021 | Gogoro to expand its EV business network to Indonesia by partnering with Gojek to enter the market segment. Indonesia is the largest market for the two wheeler segment followed by China and India |
| 3 | Q1-2021 | Yamaha, KTM, Honda, and Piaggio are partnered together to develop swappable batteries for electric two wheelers. The association will start its operation in the second quarter and is inviting other companies to join the manufacturing partnership |
| 4 | Q3-2021 | The Chinese government introduced a battery swapping programme for electric vehicles including LCVs under the Ministry of Industry and Information Technology to save CO2 emissions in the country. |
| 5 | Q4-2021 | Chinese company BAIC to build 100 battery swapping stations in China for EVs. Which comes with 4th generation battery swapping technology, takes only 30 seconds. |
| 6 | Q4-2021 | Shell is partnered with Chinese company Nio to set up charging and battery swapping stations in China and Europe. |
Battery swapping, a procedure in which expelled rechargeable batteries of powered mobility are swapped with full battery individuals, offers substantial advantages that enhance the removal of significant barriers that reduce the development of electric vehicles, including such ownership concentration costs, lengthy rechargeable batteries battery charging times, and limited operating range.
At the very same moment, battery swapping terminals, which are infrastructure where batteries are swapped, can also function as power storage implementations, supplying grid additional functions and thus enabling the infiltration of alternative energy sources.
The emergence in demand for electric vehicles, coupled with a lack of appropriate charging stations facilities and shorter charging times, is expected to boost the growth. However, growing demand is hampered by differences in battery engineering and innovation, as well as the large upfront set-up and operating costs of battery swapping stations. Furthermore, several of the factors include the rapid emergence of sharable e-mobility as well as the initiation of sophisticated and disruptive battery swapping models and assistance by industry players.
Presently, the large percentage of e-2Ws on the market have retractable batteries that can be charged via plug-in or rechargeable batteries.
Rechargeable batteries swapping has the possibility for being the most cost-effective option for efficient rapid charging infrastructure, particularly for commercial vehicle companies operating In India and developing countries with high vehicle utilization during operating hours.
EVs are substantially more expensive than traditional diesel/petrol and gas vehicles. This is also what deters vehicle purchasers who are unwilling to invest significantly more than just the higher than conventional automobiles.
The Global EV Battery Swapping Market can be segmented into following categories for further analysis.
| SI.no | Timeline | Company | Developments |
| 1 | Q4-2021 | Bounce | Bounce to set up 3500 stations for battery swapping services by partnering with Park+. Bounce is also launching its electric scooter Infinity with battery as a service option. |
| 2 | Q4-2021 | Shell | Shell is partnered with Chinese company Nio to set up charging and battery swapping stations in China and Europe. |
| 3 | Q4-2021 | Power Global | US based startup Power Global to supply its swappable eZee lithium ion batteries to Rap Eco Motors for its electric three wheeler vehicles. |
| 4 | Q4-2021 | Electric Last Mile Solutions | Electric Last Mile Solutions is partnered with CATL for its batteries and Ample to use its battery swapping technology for its EV delivery vans. |
| 5 | Q3-2021 | Reliance BP Mobility | Reliance BP Mobility to set up battery swapping stations for Swiggy delivery vehicles. |
| 6 | Q4-2021 | Hop Mobility | Indian EV company, Delhi based Hop Mobility, provides hybrid battery solutions called Hop Energy Network for its EV two wheelers. Consumers can charge the battery or swap batteries within 30 seconds. Q2 |
When particularly in comparison to charging stations, electrical generating stations provide a faster solution to address worries because each battery swap tries to take just under 10 minutes and necessitates much less room to configure. Furthermore, battery-as-a-service (BaaS) is growing rapidly in the battery swapping sector having a significant impact on lowering the high initial outlay of electric vehicles by trying to separate rechargeable batteries responsibility.
Furthermore, because the customer hardly ends up paying for the energy, battery switching reduces shutdowns and vehicular influence on price. Constrained required to charge frequency and affordability have been main impediments to the production of electric vehicles, and incredibly quickly stations are undoubtedly the most widely way to quickly contribute range to automobiles.
Battery swapping solutions, as opposed to quickly charging the battery, aim to physically replace a rapidly depleting battery with such a polarized one.
When battery replacement parts are taken into account as a result of faster charging, 50 kW charging becomes the most cost-effective option. Battery switching is perhaps most cost-effective for large fleets. A fully self-contained swapping facility that means removing drained battery components from the vehicle and wants to replace people with full battery ones.
This same exhausted battery components are therefore positioned on shelves to be refuelled. A reconfigurable battery architectural style that enables any EV to use charging points.
For battery swapping in India, Reliance Industries Ltd. launched a joint venture with BP Plc of the United Kingdom. Hero MotoCorp Ltd. and Gogoro of Taiwan have also teamed together.
Honda Motor Company of Japan has also established a battery-sharing and swapping business in India. Bounce, a Bengaluru-based startup, became the first OEM to release an electric scooter without a battery pack. Its model includes a subscription to the firm's battery-as-a-service offering.
Bounce Infinity, a battery service provider, has partnered with Bharat Petroleum Corporation Limited (BPCL) to distribute electric car batteries as part of India's EV push. Bounce's battery swapping environment will be able to reach a bigger audience as a result of this agreement.
The battery swapping network will be made available to consumers through this collaboration with Bharat Petroleum, which manages a scattered network of more than 20,000 petrol stations.
Over 1.2 million batteries have been traded on Bounce Infinity's energy infrastructure. According to the agreement between the companies, Bounce Infinity will gradually install its battery switching stations at Bharat Petroleum fuel stations.
The company's goal is to have 3000 stations in the top ten metropolitan areas.
The first EnergyCafe, a battery switching station established through strategic cooperation between Kinectic Green and Indraprastha Gas Limited (IGL), has opened. This network allows users to acquire real-time information on the battery's location and charging status.
The software allows users to locate a nearby battery switching station, make a reservation, and pay via digital payments.Under this battery-charging mechanism, customers can choose between two and three-wheelers.
It only takes 2 minutes to replace a battery and eliminates the need to buy a new one, decreasing vehicle recharging time. Battery swapping facilities can be set up in convenient locations, such as at gas stations, where customers can return their discharged batteries.
The first battery swap station in Norway was officially unveiled at NIO House in Oslo, Norway.
The revolutionary power exchange station makes travelling easy by providing a much better and faster charging experience.
The second-generation Power Swap Station 2.0 offers a better battery switching experience, with a daily capacity of 312 exchanges.
Furthermore, the vehicle may automatically drive into the station, and users can initiate the self-service swap with a single tap on the central display without having to exit the vehicle.
NIO has established 900 Power Swap stations in China, and our consumers have swapped batteries over 8,000,000 times.
The largest manufacturer of EV batteries in the world, Contemporary Amperex Technology Co (CATL), has introduced a modular battery swap service for EVs in China. According to CATL, the service, known as EVOGO, will enable users to swap out a car battery in under a minute.
Chen Weifeng, general manager of CATL subsidiary Contemporary Amperex Energy Service Technology (CAES), stated that the company will initially set up swap stations in ten cities throughout China that users will be able to access via an app during an event that was live streamed online.
Users of eligible EV models will be able to switch out depleted battery blocks for recently charged ones at EVOGO stations. The Bestune Nat MPV manufactured by FAW Group is the first vehicle compatible with CATL's EVOGO service.
The goal of EVOGO was to help owners who were struggling with "the problem of range anxiety, inconvenience of recharging, and expensive purchasing and driving costs."
The launch of CATL's battery swapping service coincides with a surge in EV purchases in China, where businesses are vying to lower costs and eliminate range anxiety.
With EV manufacturer NIO already having a network of 700 battery swapping stations in place around China, CATL is the second major participant in China to construct battery swapping stations. Owners of NIO cars can quickly swap out a fully charged battery using these facilities.
| SI.no | Timeline | Company | Developments |
| 1 | Q2-2021 | Battery Smart | Indian battery swapping startup Battery Smart raises $7 million in pre series A funding. |
| 2 | Q4-2021 | Next.e.Go | An electric vehicle manufacturer to set up its own battery swapping stations for their electric cars. |
| 3 | Q3-2021 | Geely | Chinese EV company Geely to set up battery swapping stations called E-Energee and it aims to install 5000 infrastructures for battery swapping in China by 2025. |
| 4 | Q3-2021 | Sun Mobility | Sun Mobility, an Indian startup provides battery swapping services as MaaS raised $50 million from Vittol. Sun Mobility to expand its 500 swapping stations by the end 0f 2022 and aims to provide its services to over one million vehicles by 2025. |
| 5 | Q2-2021 | Gogoro | Gogoro to build a battery swapping network in China for DCJ and YDEA two wheeler maker companies that will jointly invest $50 million for its operation. |
| 6 | Q4-2021 | Gogoro | Worldâs largest battery swapping provider for EVs, Taiwanese company Gogoro is partnered with leading electronics manufacturer Foxconn to mass produce swappable batteries, electric scooters and other products. Gogoro is also partnered with Hero MotorCorp to build electric scooters for India. |
Battery swap costs are critical for keeping infrastructure costs low. Faster trying to charge reduces taxi shutdowns but accelerates waste is generated. The most difficult challenge presently is to charge the batteries in the shortest period of time.
Elevated input into the grid necessitates a rethinking of how energy is dispersed in the power network. That seems to be, we require an intellectual grid capable of directing energy. At about the same time, it is critical to account for all of the peak position that may actually happen in the power network at almost the same moment.
Amara Raja Batteries is one of the leading developers of swapping stations in the market. With such a swapping moment of less than 2 minutes, the swapping station provides an excellent on-the-go charging solution for 2 and 3-wheeler EVs.
It provides smart and effective chargers, ensuring battery health and wellbeing. Its touch screen, RFID authentication, and digital payment make it simple to use. It's been used with a Dispersion, Control, Alarm, Tracking, and Interaction configuration in four different configurations: 20 Channel, 12 Channel, 8 Channel, and 4 Channel.
Rollers are provided in the battery slots to allow for the continuous motion of batteries (Rack in/Out). Planning to charge for batteries with capacities ranging from 1.5kWHr to 3kWHr, at charging rates ranging from 0.5 to 2C. The architecture is strong enough for both outdoor or indoor use, and so it comes with such a back - up power that can last two to three hours.
Nio Inc. is one of the major developer of swapping station systems in the industry focusing on better technology integration. It has introduced the Swap Station 2.0 into the market. The NIO Power Swap Station 2.0 is the worldâs largest first surplus battery replacement facility that enables the car to drive through into station autonomously.
The terminals can now complete 312 battery substitutions each day, a substantial improvement in swapping effectiveness. Furthermore, each channel has 239 sensors as well as four cloud computer networks to maximise computer vision applications innovations. Consumers can conduct a complete battery replacement with a click of the mouse of about their control mechanisms while still in their vehicles.
| Sl no | Topic |
| 1 | Market Segmentation |
| 2 | Scope of the report |
| 3 | Abbreviations |
| 4 | Research Methodology |
| 5 | Executive Summary |
| 6 | Introduction |
| 7 | Insights from Industry stakeholders |
| 8 | Cost breakdown of Product by sub-components and average profit margin |
| 9 | Disruptive innovation in the Industry |
| 10 | Technology trends in the Industry |
| 11 | Consumer trends in the industry |
| 12 | Recent Production Milestones |
| 13 | Component Manufacturing in US, EU and China |
| 14 | COVID-19 impact on overall market |
| 15 | COVID-19 impact on Production of components |
| 16 | COVID-19 impact on Point of sale |
| 17 | Market Segmentation, Dynamics and Forecast by Geography, 2023-2030 |
| 18 | Market Segmentation, Dynamics and Forecast by Product Type, 2023-2030 |
| 19 | Market Segmentation, Dynamics and Forecast by Application, 2023-2030 |
| 20 | Market Segmentation, Dynamics and Forecast by End use, 2023-2030 |
| 21 | Product installation rate by OEM, 2023 |
| 22 | Incline/Decline in Average B-2-B selling price in past 5 years |
| 23 | Competition from substitute products |
| 24 | Gross margin and average profitability of suppliers |
| 25 | New product development in past 12 months |
| 26 | M&A in past 12 months |
| 27 | Growth strategy of leading players |
| 28 | Market share of vendors, 2023 |
| 29 | Company Profiles |
| 30 | Unmet needs and opportunity for new suppliers |
| 31 | Conclusion |
| 32 | Appendix |
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