Motovolt Mobility, an electric bike manufacturer, has formed a strategic alliance with Swobbee, a German climate tech startup, with plans to establish 200 battery swapping stations throughout the country within the upcoming two years. The company, headquartered in Kolkata, has already inaugurated two stations in Kolkata and Delhi, and its CEO Tushar Choudhary revealed intentions to expand operations to Bengaluru and Hyderabad. Choudhary anticipates revenue below $1 million in the initial year, but foresees profitability and an approximate revenue of $10 million within the subsequent five years for this project.
Choudhary highlighted that battery swapping provides purchasers the advantage of not having to buy batteries upfront along with the vehicle, ensuring optimal battery performance, safe and efficient charging, and appropriate disposal of end-of-life batteries. Additionally, Motovolt plans to expand its presence in the e-scooter sector in the forthcoming months. Although the specific deal amount remains undisclosed, Swobbee CEO Thomas Duscha mentioned that the initial investment surpasses a seven-figure sum in US dollars. According to economic times, Duscha stated, "India, being among the largest markets for two-wheelers, is also a significant infrastructure market. If we achieve our targets in the next few years, we'll surpass our investment".
Duscha further emphasized that battery swapping was a crucial endeavor in the highly populous country and the world's fifth-largest economy. He noted, "Small businesses, delivery services, cabs all heavily depend on the millions of two- and three-wheelers traversing the roads". Although the pilot stations are currently exclusively serving Motovolt vehicles, Choudhary indicated that future stations are designed as versatile infrastructure solutions capable of swapping various Light EV battery types from other manufacturers. Initially focusing on commercial users like delivery and transportation services, Swobbee stations will gradually become accessible to private customers.