The adoption of electric rickshaws in India has increased considerably in the past few years. A major reason for this the increasing support from the government of the country for encouraging the adoption of electric vehicles. The need for convenient public mobility options that facilitate travel for short distances is high in the country. Moreover, the need for cheap public mobility is also high in India, since most of the population belong to middle-class and low-class communities.
In such a scenario, electric rickshaws are the perfect option, as it offers convenient mobility services at low cost. The batteries of these vehicles however need to be charged frequently for their smooth functioning. Most electric vehicles in the country employ slow charging systems that take up to eight hours. This can result in significant revenue loss for people who offer public mobility solutions to people.
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In terms of vehicle type, the Indian ev battery swapping market is divided into commercial vehicle, two-wheeler, and three-wheeler, among which, the three-wheeler division is predicted to account for over 90% share of the market in the years to come. The daily operational hours of these vehicles is increasing, which is why, the popularity of battery swapping technology is rising among customers. These vehicles are majorly utilized for passenger carriage, and run for more than 100 km, on a daily basis. Due to this, they need to be charged quickly, which can be facilitated by the battery swapping technology.
In conclusion, the demand for the battery swapping technology is rising in India due to the increasing penetration of electric three-wheelers, favorable government policies, benefits offered by the technology.