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Battery as a service and battery swapping

Governments worldwide have been making continuous efforts to make transportation more sustainable and environment friendly to boost the adoption of electric vehicles (EVs). However, high costs associated with battery, lower range, and charging infrastructure pose major challenges for widespread EV adoption. Against this backdrop, battery as a service (BaaS) and battery swapping have emerged as trending topics of discussion among companies, as these can reduce the cost of ownership while addressing the other challenges as well, according to GlobalData, the data and analytics company.

An analysis of the GlobalData’s Company Filings Analytics Database shows that by assessing the potential in BaaS and battery swapping, companies seem to be exploring the opportunities, with related discussions spiking up in their filing documents. Companies are collaborating to provide solutions and expand their network to deploy swapping stations.

Misa Singh, Business Fundamentals Analyst at GlobalData, comments: “Interestingly, not only core vehicle manufacturers but companies from industries other than automobiles are also showcasing interest and discussing these innovative approaches. Companies are interested in these markets to improve operational efficiencies, expand the standard battery-swapping network, and provide convenient options to customers. The Indian government is also playing a vital role in this area by introducing subsidy policies to attract companies.”

Gogoro Inc mentioned working closely with the Indian Ministry of Heavy Industries, the Indian Battery Swap Association, and other original equipment manufacturers (OEMs) to finalise India’s Fame 3 subsidy plan and the inclusion of battery swapping in that plan. The Taiwanese company discussed its pilot program with Rapido, which received positive feedback from riders expressing satisfaction with the battery swap experience. Furthermore, it is also planning the commercial launch of battery swapping and Gogoro Smart scooters in Q4 2024.

Automobile manufacturer Nio Inc also stated waiting for India’s subsidy policy, and it expects battery-swapping vehicles to be included in that policy as well as GST benefits. The company has also collaborated with Changan Automobile, Geely Holding, Anhui Jianghuai Automobile Group (JAC), Chery, Lotus, GAC Group, and FAW to expand the standard battery swapping network. Apart from battery swapping, they allow their users to purchase a NIO vehicle and subscribe for the battery under BaaS. Customers are offered a deduction of the original vehicle purchase price while paying a monthly subscription fee for the battery.

Geely Automobile Holdings Ltd revealed about Livan Automobile, a joint venture with Lifan Technology (Group) Co., Ltd to target the battery-swapping market, improve the operational efficiency of business customers, and provide a convenient battery-swapping for individual customers. The company has established its battery-swapping network in Hangzhou, Chongqing, Jinan, Tianjin, Nanjing, Changsha, and Suzhou.

Atul Auto Ltd mentioned that Atul Greentech Private Limited (AGPL), in strategic partnership with Honda Power Pack Energy India & Valeo, will launch battery-swapping technology and infrastructure for EVs. The partnership works towards providing swappable battery solutions in the three-wheeler segment.

Stellantis NV discussed establishing a partnership with Ample in December 2023 to use Ample’s Modular Battery Swapping Technology for use in its EVs. In its report, Wasion Holdings Ltd revealed the launch of a series of products with independent intellectual property, including intelligent charging and battery swapping products and two core control systems.

To provide an integrated business solution for B2C and B2B customers, Vmoto Limited has also introduced its first battery swapping and charging station for its electric motorcycle and scooter. 

Indian Oil Corp Ltd also discussed its joint venture with Sun Mobility Pte Ltd, Singapore, to establish battery-swapping networks in India by 2030. This collaboration will combine technology with OEMs and expand its network development across the cities. The petroleum refineries company believes battery swapping offers a quick and convenient solution for EV users, eliminating long charging times, extending battery life, and reducing electronic waste.

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