Battery swapping means the exchange of a discharged battery for a charged battery at a swapping station. It has been gaining popularity in the industry as a key to comfort range concern, one of the prime impediments to the large-scale acceptance of electric vehicles.
Presently, it often takes four to five hours to completely charge the batteries of two-wheeler and three-wheelers. While there are quicker charging possibilities, they still have a downtime of an hour. Battery exchange is smooth and does not take more than a few minutes to be swapped and customers do not have to be part of the waiting game anymore.
India EV Battery Swapping Market
The basic component in an electric vehicle is a high-voltage battery, consisting of 40-50% of the price of the manufacturing. With battery swapping, consumers have the choice of purchasing an electric vehicle without a battery; they can go for a swap subscription and load a swappable battery into the vehicle.
What is Pay-Per-Use Model?
Pay-per-use model is when a customer is charged for specific usage of battery swapping services. Pay-per-use model does not assume a fixed monthly or annual fee; instead, a customer makes a single purchase at a fixed price based on usage.
What is the Subscription Model?
A future strategy for enabling the introduction of electric-drive vehicles calls for vehicle buyers to own the vehicle but rent the battery from a third party for reducing the first-price hurdle to customers. A further extension of this method for all-battery EVs would comprise the capability for customers to swipe their discharged batteries for charged ones at battery exchange stations. This reason would increase the driving range for EV service subscribers but with amplified expenses to build and operate the stations.
Why Battery Swapping is Good
Extra mileage Because of battery swapping
Swapping batteries functions well for high-power vehicles due to the bigger batteries they use. This arrangement is typically found in electric vehicles that need a lot of daily mileage.
Choice That Saves Money
When seeing the current average price of a completely electric vehicle battery, which is between Rs. 15,000 and 2,500 per kWh, it’s clear that system exchanging can be a cost-efficient option. Purchasing a new battery every time the old one expires is a waste of several thousand rupees. A cooler and more practical option than regularly replacing batteries is a swapping.
Shortest Possible Charging Duration
There is no requirement to wait for the battery to charge when swapping batteries is possible. The procedure of disconnecting and reconnecting is fast, so you can get back on the road in no time.
Hence, as global warming is increasing the need for EVs is also increasing, and this growing demand will also impact the battery swapping market positively and will reach a total value of USD 61.57 million in India.
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