Motovolt and Swobbee Partner To Set Up battery Swapping Stations By CIOTechOutlook Team

Motovolt and Swobbee Partner To Set Up battery Swapping Stations

CIOTechOutlook Team | Thursday, 21 December 2023, 02:33 IST

Motovolt Mobility, an electric bike maker, established a strategic cooperation with Swobbee, a German climate tech startup, and plans to build up 200 battery swapping stations across the country over the next two years. The Kolkata-based company, which has already opened two stations in Kolkata and Delhi, wants to open stations in Bengaluru and Hyderabad next, according to company CEO Tushar Choudhary.

“For the first year, we expect to see revenue below $1 million, but in the next five years, we expect the project to be profitable and generate revenue of about $10 million,” he said.

“Battery swapping offers buyers freedom from the necessity to purchase batteries upfront with the vehicle, ensuring optimal battery performance, safe and efficient charging, and proper disposal of end-of-life batteries,” said Choudhary. Motovolt will also be expanding its reach into the e-scooters segment in the coming months.

While the deal amount has not been disclosed, Swobbee CEO Thomas Duscha said the initial investment exceeds a seven digit sum in US dollars. “India is one of the biggest two-wheeler markets, and we clearly see that it is also one of the biggest infrastructure markets. We will exceed our investment if we reach our goals in the next few years,” as per economic times.

Battery swapping was an important venture in the most populous country and the fifth-largest economy on the planet, Duscha added. “Small businesses, delivery services, cabs - they all rely on two- and three-wheelers, which are on the roads by the millions,” he said.

While the pilot stations can only service Motovolt vehicles, the future stations, according to Choudhary, have been built as universal infrastructure solutions capable of switching numerous Light EV battery types from other manufacturers.

Swobbee stations will initially target commercial users, including delivery and transportation services, before progressively becoming available to private customers.