The adoption of electric rickshaws in India has increased considerably in the past few years. A major reason for this the increasing support from the government of the country for encouraging the adoption of electric vehicles. The need for convenient public mobility options that facilitate travel for short distances is high in the country. Moreover, the need for cheap public mobility is also high in India, since most of the population belong to middle-class and low-class communities.
In such a scenario, electric rickshaws are the perfect option, as it offers convenient mobility services at low cost. The batteries of these vehicles however need to be charged frequently for their smooth functioning. Most electric vehicles in the country employ slow charging systems that take up to eight hours. This can result in significant revenue loss for people who offer public mobility solutions to people.
In this scenario, battery swapping technology can be of great help, since it reduces waiting time drastically. In order to avail these services, the user needs to get a depleted battery replaced by a fully charged, which can be done at a swapping station. The convenience of this service is resulting in the growth of the global Indian electric vehicle battery swapping market. Several companies in the country are collaborating with battery manufacturers for providing users with improved services.
On the basis of service type, the Indian electric vehicle battery swapping market is categorized into subscription model and pay-per-use model, between which, the subscription model is expected to advance at a faster pace during the forecast period. The rising utilization of the battery swapping technology in commercial vehicles is predicted to eventually pave the way for growth of the subscription model. Since electric bus driver have a fairly good idea of how much distance is being covered in how much time, they are expected to be the major users of the subscription model in the years to come.
In conclusion, the demand for the battery swapping technology is rising in India due to the increasing penetration of electric three-wheelers, favorable government policies, benefits offered by the technology.
