Latest news with #NeuronEnergy
Time of India
14 hours ago
- Automotive
- Time of India
Neuron Energy launches Gen 2 battery packs for EV segment
Neuron Energy has announced the launch of its second-generation lithium-ion battery packs for electric two-wheelers, three-wheelers, and light commercial vehicles (LCVs). The Gen 2 series will be commercially available from July 2025 across India. The company stated that the new battery packs have been designed to meet the needs of various electric vehicle segments operating in Indian conditions. With this product launch, Neuron Energy is targeting a revenue of over ₹250 crore and plans to cater to EV manufacturers, fleet operators, logistics companies, battery dealers, e-mobility startups, and government institutions. Focus on durability and compatibility The Gen 2 battery packs include updated features aimed at increasing operational reliability. The packs feature revised structural designs to support compatibility with a wider range of vehicle models and to manage heat dissipation more effectively. Key technical features include reinforced pack architecture, which is designed to improve structural strength and allow integration across different vehicle platforms; vibration resistance that is built to offer improved performance in high-vibration conditions found on Indian roads; and smart battery management system (BMS) that supports extended battery life. Commenting on the development, Pratik Kamdar, Co-founder and CEO, Neuron Energy, said, 'The Gen 2 battery launch is a pivotal step in our journey to build more reliable and intelligent power solutions, provide greater cost efficiency and enhanced performance for India's growing EV ecosystem. These battery packs represent not just technological progress, but a deeper commitment to safety, sustainability, and performance for EV users across the spectrum.' Neuron Energy aims to address both current and future demands of India's electric mobility sector, positioning itself to support growth in personal and commercial electric vehicle adoption.
Yahoo
07-02-2025
- Automotive
- Yahoo
Battery as a Service Market Global Forecast to 2035, with Case Studies of Galp, Swobbee, Boost Logistics, Nio, Tesla, Renault and Urja Mobility
The battery as a service market is dominated by major players, including NIO, Gogoro, XPENG, SAIC Motor Corporation, Vinfast and more. These companies are expanding their portfolios to strengthen their battery as a service market position. Battery as a Service Market Dublin, Feb. 07, 2025 (GLOBE NEWSWIRE) -- The "Battery as a Service Market by Leasing Type (Subscription, Pay-Per-Use), Usage (Private, Commercial), Vehicle Type (Two-Wheelers, Three-Wheelers, Passenger Cars, Commercial Vehicles), Battery Capacity, and Region - Global Forecast to 2035" report has been added to global battery as a service market is projected to reach USD 0.66 billion in 2024 to USD 14.45 billion in 2035, at a CAGR of 32.4% from 2024-2035. The commercial adoption of electric cars is expected to rise, driven by the cost savings and operational efficiency offered by the battery as a service model. This model helps lower operating costs, reduce downtime, and improve fleet performance. In Europe, where 40 - 60% of EV sales are for fleet use, battery leasing is likely to become a highly attractive option once battery prices stabilize. Additionally, the growing demand for electric three-wheelers in last-mile delivery and public transport, especially in rapidly urbanizing areas, is boosting the adoption of battery leasing services. Three-wheelers segment is expected to grow at the fastest rate in the battery as a service market during the forecast periodThe three-wheelers segment is projected to exhibit the highest growth during the forecast period, primarily driven by the rapid adoption of electric three-wheelers and delivery vehicles in emerging markets such as India. The cost-effectiveness offered by battery leasing service and the need for affordable and sustainable transportation solutions fuel this growth. Mahindra Last Mile Mobility (India) has been offering battery leasing solutions for its Zor Grand and Treo Plus three-wheeler models in India since December 2024, the company partnered with VidyutTech (India) to introduce a battery as a service offering for its three-wheeler commercial electric vehicles, with a aim to make EV ownership more affordable by providing a pay-as-you-go battery rental service, starting at just Rs 2.50 per kilometer. Similarly, in September 2024, Neuron Energy (India) partnered with Pointo (India) to lease lithium-ion batteries for commercial Energy to supply up to 12,000 high-capacity 5.1-kWh lithium-ion batteries for L3 category e-rickshaws, replacing lead-acid batteries. Further, in April 2024, Neuron Energy partnered with Urja Mobility (India) to lead the battery leasing model for e-rickshaws, commonly known as 'toto,' in Kolkata. Together, the companies aimed to establish a fleet of 5 million e-rickshaws across the country. Likewise, in March 2024, Sun Mobility (India) and Revfin (India) partnered to finance and deploy nearly 100,000 electric two- and three-wheelers under the battery as a service segment is expected to grow at the fastest rate in the battery as a service market during the forecast periodBattery leasing is witnessing rapid growth in the commercial segment, driven by the cost efficiency and operational flexibility it offers to fleet operators. Using the leasing options, the commercial fleet owners can lower their initial investment costs and reduce concerns regarding battery degradation. Fleet usage for cars is expected to grow faster, as the value proposition is especially beneficial for fleet operators who can capitalize on lower costs and streamlined operations. In Europe, where 40 - 60% of EVs are sold to fleets, battery leasing solutions presents a strong value proposition for cars, particularly as battery prices stabilize. Similarly, in India, MG introduced a value proposition of USD 11,557 (Rs.10 lakh) for fleet providers. Further, electric three-wheelers which are mostly used for commercial purposes, are gaining momentum in countries such as India and China. Similarly, in December 2024, Mahindra Last Mile Mobility (India), in partnership with VidyutTech (India), introduced a battery leasing program for Mahindra ZEO (4W), the Zor Grand, and Treo Plus (3Ws). Likewise, Jiangsu Hanbang Vehicle Industry Co., Ltd. (China) offers a battery leasing option for select models of Meidi three-wheeler is expected to grow at the fastest rate in battery as a service market during the forecast periodEurope's electric vehicle market has grown substantially, driven by environmental awareness, stringent emission regulations, and significant government incentives. With major cities implementing low-emission zones and the EU aiming to meet its 2030 sustainability targets, the region's demand for electric mobility is accelerating. The UK, Germany, and France are leading this transition, with the UK becoming Europe's largest EV market in 2024, bolstered by policy shifts like the Zero Emission Vehicle (ZEV) mandate. The challenges of high upfront costs and limited infrastructure create a promising opportunity for the growth of the battery as a service market in as the region pushes for strict emission targets and a shift away from internal combustion engine vehicles, the growth of the battery service market is expected to increase in the coming years. NIO (China), Renault Group (France), Yamaha Motor Co., Ltd. (Japan), and Switch Mobility (UK) are some of the OEMs providing battery as a service solution with their vehicle models. VinFast for instance, is offering battery subscription service in its VF8 and VF9 vehicle models since 2022 in European markets such as Germany, France and Netherlands. Similarly, NIO is offering battery leasing service in its ET5, ET7, EL6, EL7 vehicle models in Germany since 2023. Competitive Landscape The battery as a service market is dominated by major players, including NIO (China), Gogoro (Taiwan), XPENG INC. (China), SAIC Motor Corporation Limited (China), and Vinfast (Vietnam) and more. These companies are expanding their portfolios to strengthen their battery as a service market position. The report provides insight on the following: Analysis of key drivers (Ease of EV ownership with battery leasing, Integration of battery swapping service), restraints (Limited scope in North America and Europe for two-wheeler & three-wheeler segments, Limited scope in private vehicle segment), opportunities (Increasing reliance on micro-mobility, Second-life battery storage, Expansion of battery leasing in industrial and commercial applications), and challenges (Dependency on battery asset companies, Shortage of lithium for use in EV batteries, Limited standardization in battery technology) Service Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new service offerings in the battery as a service market. Market Development: Comprehensive information about lucrative markets - the report analyses the battery as a service market across varied regions. Market Diversification: Exhaustive information about new services, untapped geographies, recent developments, and investments in the battery as a service market. Competitive Assessment: In-depth assessment of market share, growth strategies, and service offerings of leading players like NIO (China), Gogoro (Taiwan), XPENG INC. (China), SAIC Motor Corporation Limited (China), and Vinfast (Vietnam), among others in battery as a service market. Key Attributes: Report Attribute Details No. of Pages 256 Forecast Period 2024 - 2035 Estimated Market Value (USD) in 2024 $0.66 Billion Forecasted Market Value (USD) by 2035 $14.45 Billion Compound Annual Growth Rate 32.4% Regions Covered Global Key Topics Covered: Premium Insights Attractive Opportunities for Players in Battery as a Service Market Battery as a Service Market, by Leasing Type Battery as a Service Market, by Usage Battery as a Service Market, by Vehicle Type Battery as a Service Market, by Battery Capacity Battery as a Service Market, by Region Market Dynamics Drivers Ease of EV Ownership with Battery Leasing Integration of Battery Swapping Service into Battery Leasing Model Restraints Limited Scope in North America and Europe for Two- and Three-Wheelers Limited Scope in Private Vehicles Segment Opportunities Increasing Reliance on Micromobility Integration of Second-Life Battery Storage Expansion of Battery Leasing Model into Industrial and Commercial Applications Challenges Dependence on Battery Asset Companies Shortage of Lithium for Use in EV Batteries Limited Standardization in Battery Technology Case Study Analysis Galp Partnered with Swobbee and Boost Logistics to Launch Network of Battery Swapping Stations Nio and Tesla Adopted Battery as a Service Model to Address Range Anxiety and Long Charging Time Renault Introduced Flexible Battery Leasing Model for Electric Vehicles Urja Mobility Introduced Cost-Effective Battery Leasing Model for Commercial Electric Vehicles Battery as a Service Market, by Battery Capacity Below 5 kWh - Rising Popularity of Electric Two-Wheelers in Urban Areas to Drive Market 5-10 kWh -Growing Demand for Three-Wheelers to Drive Market 11-50 kWh -Growing Demand for Budget-Friendly EVs to Drive Market 51-100 kWh -Rising Popularity of Luxury EVs and Commercial Vehicles to Boost Demand Above 100 kWh -Demand for Heavy-Duty Commercial Vehicles to Drive Market Battery as a Service Market, by Vehicle Type Two-Wheelers - Growing Demand for Low-Cost Delivery Vehicles to Drive Market Three-Wheelers -Growing Demand for Three-Wheelers for Public Transport to Drive Growth Passenger Cars -Need for Flexible Pricing and Ownership Models to Boost Demand Commercial Vehicles -Focus on Reducing Fleet Emissions to Spur Demand Battery as a Service Market, by Leasing Type Subscription - Demand for Cost-Effective Leasing Options to Drive Growth Pay-Per-Use - Growth of Private Ownership of Electric Vehicles to Drive Market Battery as a Service Market, by Usage Private - Rise in Number of Consumers Seeking Affordable Options to Drive Market Commercial - Need for Reduced Cost Value Proposition and Options for Buyback Offers to Create Demand Company Profiles Key Players Nio Gogoro Xpeng Inc. Saic Motor Corporation Limited Vinfast Mahindra&Mahindra Ltd. Bounce Infinity Yinson Green Technologies Lectrix E-Vehicle Pvt. Ltd. Hyundai Motor Company Yamaha Motor Co. Ltd. Nissan Motor Co. Ltd. Other Key Players OEMs Hero Electric Vehicles Pvt Ltd. Kymco Renault Group Beijing Automotive Group Co. Ltd. Kinetic Green Switch Mobility Honda Power Pack Energy India Private Limited Arc Ride Basigo Battery Asset Management Companies Urja Mobility Sun Mobility Octillion Battery Smart Movio Technologies Private Limited Contemporary Amperex Energy Service Technology Limited For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Battery as a Service Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Sign in to access your portfolio
