EV Battery Swapping For Three-Wheeler Market to Witness Growth Acceleration During 2021-2030

Posted April 4, 2022 by PuneetShah

India and China contribute significantly to the APACEV battery swapping for two- and three-wheeler markets
The preference for electric vehicles (EVs) has surged over the years due to their eco-friendly nature. Moreover, government subsidies and regulatory policies have fueled the adoption of electric scooters and motorcycles in emerging economies, such as India and China. For instance, the Indian government introduced the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAMEIndia) scheme in 2015 to provide subsidies within a range of $364 (INR 25,000)–$887 (INR 61,000), based on the electric three-wheeler model. Besides, the government also aspires to bear 60% of the research and development (R&D) cost to create cost-effective technologies for electric rickshaws.

Moreover, the widespread adoption of electric two-wheelers in business-to-business (B2B) services, such as last-mile transportation, scooter sharing, and ride-hailing, and that of three-wheelers for carrying passengers and goods has generated immense opportunities for the electric mobility niche. However, the inadequate charging infrastructure in Asia-Pacific (APAC), the hub for these vehicles, has become an issue for vehicle owners and drivers. Furthermore, a majority of the drivers need to charge their EVs twice a day, as a single charge is insufficient for the whole day, which affects their income. To avoid the loss of income, by reducing the time the EV idles, drivers are opting for swapping EV batteries.

In comparison to other types of shared mobility services, electric kick scooter and electric scooter sharing services can be hyper-localized and address the problem of last-mile connectivity. Moreover, the smaller battery pack of these automobiles compared to other EVs is giving a push to the EV battery swapping for two- and three-wheeler market, by making the swapping process easier and faster. Similarly, the development of compact three-wheeler EV batteries has smoothened the process of swapping depleted batteries with charged ones.

Currently, the EV ecosystem of the APAC region accounts for the highest frequency of two- and three-wheeler battery swapping, as it is home to the largest number of these vehicles. India and China contribute significantly to the APACEV battery swapping for two- and three-wheeler markets. Besides, the successful commercialization of EV battery swapping services in Taiwan is fueling their demand in the region. Furthermore, the booming population and expanding consumer base for these automobiles will drive the scale of swapping activities.

Thus, the escalating popularity of EV-based B2B services and improvements in the last-mile connectivity ecosystem will add to the popularity of the EV battery swapping concept for two-wheelers and three-wheelers.
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Tags ev battery swapping for threewheeler market , ev battery swapping for two and threewheeler market , ev battery swapping for twowheeler market , ev battery swapping industry , ev battery swapping market
Last Updated April 4, 2022