Government Initiatives Driving Popularity of EV Battery Swapping in India

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.

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.

Request to Get the Sample Report: https://www.psmarketresearch.com/market-analysis/india-electric-vehicle-battery-swapping-market/report-sample

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 turn, help in making shared electric mobility cost-effective for commuters.

Make Enquiry Before Buying the Report: https://www.psmarketresearch.com/send-enquiry?enquiry-url=india-electric-vehicle-battery-swapping-market

Hence, with governments offering their support for EV adoption and entering in partnerships to make the charging process easier, the battery swapping concept will become popular in the country.