EV Boom On Wheels: Battery Swapping Industry Gains Momentum As Scooters, Tuk-Tuks Turn Electric

India’s journey toward decarbonising its transport sector is creating fresh opportunities in battery swapping, a technology increasingly seen as essential for the rapid adoption of electric scooters, motorcycles and tuk-tuks.

As the country shifts from petrol-powered vehicles to battery-operated alternatives, demand is mounting for faster and more efficient charging options, especially among commercial operators.

Over the past few years, startups, state-run oil companies like Indian Oil Corp., and conglomerates led by billionaire Mukesh Ambani have all signalled interest in establishing expansive networks of battery swapping stations, reported Bloomberg.

These facilities allow EV users to replace a drained battery with a fully charged one within minutes, avoiding long waits at conventional charging points.

Commercial Drivers Lead the Shift

The momentum behind battery swapping is gaining speed as sales of electric two- and three-wheelers increase. These vehicles are widely used by gig economy workers, tuk-tuk drivers, and delivery fleets that prioritise uptime and efficiency. For them, the ability to swap out a battery quickly means more time on the road—and more income.

Data from BloombergNEF showed that battery-powered three-wheelers made up 57 per cent of all new three-wheeler sales in 2024. Electric two-wheelers, meanwhile, represented 6 per cent of category sales in 2024, a notable rise from under 1 per cent in 2020.

According to the government, swapping technology is increasingly viewed as a tool to curb transport emissions, which contribute about 9 per cent of the country’s total.

“We have barely scratched the surface in terms of what is required,” said Pulkit Khurana, co-founder of Battery Smart. The startup, which focuses on commercial vehicles, has established over 1,400 swapping sites in 40 cities. “EV adoption has definitely been increasing.”

Battery Smart and its peers have secured more than $1 billion in funding to scale their networks. JMK Research & Analytics identified battery swapping as a “crucial solution” for two and three-wheeler EVS in an October report. Another player, Sun Mobility, operates around 800 sites and has partnered with Indian Oil to serve commercial clients.

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Challenges In Scaling Infrastructure

While demand is rising, infrastructure development still faces hurdles. The government estimates the country will require over 26,000 swapping kiosks by March 2026 and as many as 111,000 by FY2030. Currently, there are about 2,600 such stations, most of them concentrated in Delhi, according to the India Battery Swapping Association.

Traditional EV charging points have seen faster expansion. The Ministry of Heavy Industries reported earlier this month that there are now 26,367 public EV charging stations nationwide.

Some global players have also shown interest. Taiwan-based Gogoro Inc., which announced a $2.5 billion plan in 2023 to roll out 15,000 kiosks in India, cited policy uncertainties as a reason for delayed progress. “We continue to believe in the future growth of India's EV ecosystem,” said Henry Chiang, Gogoro’s interim chief executive officer.

Reliance Industries has proposed developing swappable batteries and a supporting network through its Jio-BP Pulse brand. However,  Harish Mehta, CEO, Reliance BP Mobility Venture, pointed out last year that a lack of standardisation has hindered rollout. The company declined to comment further on its plans.

Global Context And Roadblocks

India’s progress in battery swapping is slower compared to China, where companies like Nio Inc. operate around 3,000 swapping stations. During the recent Chinese New Year, Nio’s busiest station performed 180 swaps a day. CATL, the world’s largest battery maker, and Sinopec plan to add more than 500 stations in China this year, eventually targeting 10,000.

One major obstacle in India remains the absence of interoperability. “The biggest roadblock to adoption of large-scale battery swapping in India is the lack of interoperability between different battery swapping stations,” said Komal Kareer, analyst at BNEF.

Other technologies could also pose competition. “Breakthroughs in fast-charging technology could potentially also impact the need for battery swapping,” noted Ravneet Phokela, chief business officer at Ather Energy, which has 3,800 chargers across India.

Yet the rapid expansion of quick-commerce and grocery delivery services may help battery swapping find its footing. Swiggy recently committed to converting its fleet to 100 per cent electric by 2030, with Zomato expressing similar ambitions.

“It’s very, very critical that the drivers are able to get their batteries in three minutes to five minutes,” said Abhinav Sinha, head of technology and telecoms at British International Investment. “Every minute lost is an earnings loss for them.”

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