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India Electric Vehicle Battery Swapping Market
Size, Trends, Company Profiles, Growth Rate,
Trends and its Emerging Opportunities
The need for electric vehicles (EV) in India is dire on account of the air that is becoming more
suffocating and disease-causing every year, owing to the escalating pollution levels. Realizing
this grave problem, the government has launched the FAME India scheme, under which it is
not only offering purchase subsidies for EVs but also bearing a large chunk of the research
and development (R&D) cost. Thanks to such efforts, the sale of e-rickshaws has burgeoned
in the country, especially in tier I and II cities.
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As per P&S Intelligence, this inadequate availability of charging stations will be a key factor
for the Indian electric vehicle battery swapping market growth in the years to come. This is
because merely replacing the discharged battery with a charged one is faster and less hassle-
prone than keeping an EV plugged into a charging station. Since most of the few charging
stations that are available are slow-charging variants, they can take up to 8 hours to
completely charge an EV battery. This has been a problem for those who have to operate their
vehicle throughout the day and for long distances, such as intercity and intracity buses.
Such EV battery swapping stations offer pay-per-use and subscription-based services, of
which the subscription-based model is expected to become popular in the Indian electric
vehicle battery swapping market more rapidly in the years to come. This would be because
in the long run, a subscription comes out to be cheaper than paying every time the battery is
swapped. With the burgeoning adoption of EVs in public transportation services, the
subscription model will allow vehicle operators to cut down on their expenses, which will, in
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