Motovolt partners with Swobbee for battery swapping stations, will hit Bengaluru and Hyderabad next
Motovolt mobility on Thursday announced a strategic partnership with German climate tech firm Swobbee, and will be setting up 200 battery swapping stations across the country in the next two years. The Kolkata based firm, which has already launched two stations in Kolkata and Delhi, plans to set up stations in Bengaluru and Hyderabad next, company CEO Tushar Choudhary told ET.
“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,” he told ET.
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 cater to Motovolt vehicles, the future stations have been designed as universal infrastructure solutions, capable of swapping various Light EV battery types from different manufacturers, said
