The world is getting hotter and we earthlings have to do something about it. With every year coming one after the other, the global temperature is exceeding limits and creating tough times for people to survive in the heat. The World Economic Forum suggests that an increase in a few degrees can make life difficult to withstand and summers can become extremely hot and winters can turn extremely cold. The natural order of habitat requires a favorable climate to thrive and maintain a flourishing ecosystem. 

But with the world population growing at a rapid pace and the use of appliances like air conditioners along with an increasing number of vehicles on the street, the eco-friendly future seems to be blurry. Although not everything is at risk and the government along with the support of the nation is taking the right measures to reach the net zero mark within the next few years. 

Business Outreach Magazine is a concerned participant in the movement to be sustainable, not only in India but in the entire world. We are here to take you through some of the best EV battery swapping companies in India that are offering the most suitable way to replace the accessories.

The electric mobility era has already started as automobile companies are playing a pivotal role in giving the demanding Indian market the best value for money product. Electric vehicles are now being present in almost every segment from buses, cars, three-wheelers and even bicycles. 

Coupled with attractive schemes from the government and enormous tax relaxation of buying these electric vehicles is indeed ramping up the production to meet the demands of the customers. The EV battery swapping technology is something very unique and requires a lot of effort. Correct application of the method can save the mother earth from a lot of environmental hazards, since batteries are also made of chemicals. 

As responsible generations, we should put in every effort to decrease the usage of greenhouse gas emissions in order to save our environment. EV battery swapping business model includes exchanging batteries that are discharged with charged batteries and letting the customers have the benefit to charge the discharged batteries separately. Such methods can effectively develop the EV ecosystem in our country and challenges can be conquered towards building a greener society.

The EV battery swapping methodology is reported to grow at a CAGR of 24.7% and is calculated to be worth $ 229.1 million in the year 2022 which should increase to $ 690.81 million by the year 2027. The Budget of FY 2022-23 introduced interesting policies of battery swapping. In the month of April 2022, Niti Aayog released a draft based on EV battery swapping, which clearly hints at better accessibility and affordability under an efficient plan of action. There are many startups that are investing in These ventures and are strengthening the industry from the grass root level. 

These are the Best EV batteries Startup Companies –

Sun Mobility

Sun Mobility is one of the best EV battery swapping companies in India that was founded in the year 2017 by Chetan Maini, Uday Khemka, Ajay Goel, and Anant Badjatya. The company is based in Bengaluru and promotes an innovative business structure in swapping EV batteries. The company has created an efficient system to replace discharged batteries with charged ones from their battery swapping stations and thereby making EV mobility more practical for commercial and consumer use. 

Sun Mobility is planning to establish a network for expediting mass adoption of the EV transition and to ultimately make it more friendly for the pockets. The stations located in the cities help in tackling upfront costs and prolonged charging time. Customers can also address anxiety issues related to exhausting their battery capacity while traveling. 

The company’s ‘pay-as-you-go’ plan provides enough flexibility for customers to adopt the EV movement. The company has partnered with companies like Uber, Piaggio, BOSCH, Indian Oil Corporation, and many other manufacturers to initiate the early acceptability of the entire system.  Sun Mobility raised about $ 50 million in funding from Vitol to concentrate on global expansion and scalability. 

Chargeup

Chargeup is another startup based in Delhi that empowers the EV battery swapping process. The company was founded in the year 2019 by Varun Goenka and Akshay Kashyap. Chargeup is a startup that supports e-rickshaw drivers and provides a battery as a service (BaaS) business model. It is estimated that the company currently has a community of more than 2.4 million e-rickshaw drivers.

With the current pace of growth and reputation, Chargeup aims to power more than 1 million EV by the year 2027. The technology that backs Chargeup is based on a network with Artificial Intelligence. There are about 10,000 Chargeup stations that deliver about 5,000 MwHr. The subscription-based business recognizes the hotspots in demand and provides assistance accordingly. 

There are no upfront costs that the e-rickshaw drivers have to bear and there is the flexibility to change discharged batteries two to three times every day from any station. The company was able to raise about $ 2.5 million from Capital A, Anicut Capital, Tiger Shroff, Aman Gupta, Shraddha Gupta, and also Sameer Gupta. This has allowed the company to plan for further expansion to more cities. 

Battery Smart

Battery Smart is a startup from Delhi that was founded in the year 2020 by Pukit Khurana and Siddharth Sikka. The company offers multiple EV battery charging and swapping stations for three-wheeler Electric vehicles and two wheeler electric vehicles. Battery Smart is a partner-led business model that has an objective to make EV mobility economical and sustainable. The startup has plans to create an EV battery swapping station in every one square km in the Delhi region and make it a $ 17 billion market by the year 2025. 

Battery Smart is constantly in collaboration with OEMs, manufacturers, other startups, and with the huge community of drivers in order to create a solid ecosystem. The interoperable battery solution is the future for electric transition and Battery Smart is playing a pivotal role in it. The company offers top-quality lithium-ion batteries and charges Rs. 25,000 to Rs. 28,000 for each battery replacement. 

With this business model, Battery Smart has a mission to improve the livelihood of e-rickshaw vehicle drivers and scale their earnings. Battery Smart raised about $ 7 million in series A funding from investment groups like Blume Ventures and Orios Ventures in the month of November in 2021. 

RACEnergy

RACEnergy is an EV battery swapping company from Hyderabad, India. The startup was founded in the year 2018 by alumni of BITS, namely, Arun Sreyas and Gautham Maheswaran. The startup has built EV battery swapping stations to power three-wheeler vehicles. The powertrain used is of high performance and serves three-wheeler vehicles accordingly. 

The main aim of these high-performance powertrains is to compete with the ICE counterparts and to also include tracking, functions for security, and to ensure safety. The energy as a services business approach takes the battery’s cost out from the vehicles with the help of the startup’s several swapping stations.

RACEnergy raised about $ 1.3 million in funding from investment groups like Micelio Funds, growX ventures, Huddle, Prophetic Ventures, and BITSian Angels to assist in further research and development. 

Battery Pool

Battery Pool is a Pune-based EV battery swapping startup that was founded in the year 2018 by Ashwin Shankar. The real-time insights provided to fleet operators deduct any challenges that are met while improving the entire system for smooth operation. Battery Pool develops technology-focused SaaS models coupled with hardware solutions that are prepared to meet the requirement of operators for EV fleets. 

The system is IoT powered, API-driven software ecosystem that allows battery swapping to work seamlessly. The system is customizable according to the specifications of the battery and are integrated with existing CRM which is suited for the Indian ambiance. 

In the year 2021, Battery Pool gathered an undisclosed figure of funding from IAN and many others to develop the business and make new products for charging the fleet. 

Business Outreach Magazine brings to you some insights about the startups that are selflessly working to sustain the greener environment motive of the future. With these companies on the line and with support from the Indian Government, we are dominant in making a mark in the global footprint. 

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