Latest news with #batteryswapping
Entrepreneur
02-06-2025
- Business
- Entrepreneur
Battery Smart Secures USD 29 Mn to Accelerate Battery Swapping Expansion
The investment was led by New York-based private equity firm Rising Tide Energy, with participation from responsAbility, Ecosystem Integrity Fund, and LeapFrog Investments. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Battery Smart, a battery swapping operator, secured USD 29 million in fresh funding as part of its ongoing Series B round, according to YourStory media company. The investment was led by New York-based private equity firm Rising Tide Energy, with participation from responsAbility, Ecosystem Integrity Fund, and LeapFrog Investments. The funds will be deployed to deepen Battery Smart's presence in existing cities and drive expansion into new markets across India, further accelerating EV adoption. Founded in 2019 by Pulkit Khurana and Siddharth Sikka, Battery Smart is based in Gurugram and provides lithium-ion battery swapping services for electric two- and three-wheelers. Its growing network simplifies EV energy replenishment through a quick-swap model, enabling vehicles to get fully charged batteries in minutes. Battery Smart operates over 1,518 battery swapping stations across 321 locations in Delhi and has facilitated more than 74.9 million swaps. Over 68,036 EV drivers are currently onboarded onto its platform. The company was last valued at USD 451 million and holds a 36% market share, positioning it as a key player in India's battery swapping ecosystem, competing with the likes of VoltUp, SUN Mobility, and Mooving. Battery swapping offers a faster and more efficient alternative to conventional EV charging by eliminating wait times and enabling higher vehicle utilisation—making it ideal for commercial fleets, last-mile delivery, and shared mobility services. With its scalable infrastructure, Battery Smart is powering the next phase of India's electric mobility revolution.
Entrepreneur
26-05-2025
- Automotive
- Entrepreneur
Is Battery Swapping The Way For EV Two-wheeler Adoption in Rural India?
Battery swapping is exactly what it sounds like. Instead of plugging in your vehicle to charge for hours, you simply swap your depleted battery for a fully charged one at a station. This idea isn't new, but its appeal is growing rapidly in semi-urban and rural areas where consumers lack access to dedicated home chargers or stable electricity connections. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. India's EV stride has already kick started in the urban areas, with cars, scooters and, to an extent, bikes as well. The country is slowly understanding the value of an electric vehicle -– its environmental impacts as well as the impact it has on one's wallet going forward — as compared to ICE vehicles. As per a report by IBEF, the shift towards electric vehicles on a global scale will create fresh opportunities for automotive suppliers. The Indian EV battery market is projected to surge from $16.77 billion in 2023 to $27.70 billion by 2028. Dinesh Arjun, co-founder & CEO, Raptee, lays the foundation, stating, "When it comes to switching to electric two-wheelers, range anxiety is just the starting point. Under the surface, customers are equally concerned about vehicle safety, reliability, and the strength of after-sales support—especially with EVs being a new and unfamiliar technology." Arjun is certain that the customers want to know if the vehicle will hold up to daily use, if service and spares will be easily accessible, and if their investment will retain value over time. "These aren't just product concerns; they reflect trust in the entire ecosystem," he concludes. This brings us to the evolving narrative in India's Tier II and Tier III cities, where a different kind of solution is quietly gaining traction, i.e., battery swapping. Battery swapping is exactly what it sounds like. Instead of plugging in your vehicle to charge for hours, you simply swap your depleted battery for a fully charged one at a station. This idea isn't new, but its appeal is growing rapidly in semi-urban and rural areas where consumers lack access to dedicated home chargers or stable electricity connections. "Battery swapping as a solution is an attractive proposition not just in Tier II-III towns but also in Tier I cities," says Chetan Maini, co-founder and vice-chairman of SUN Mobility. He notes that even in urban areas, the lack of space or home ownership makes it hard to install home chargers. Moreover, these users often travel longer distances daily, making swapping a fast, low-downtime alternative. "As electric 2-wheeler adoption in Tier I cities rises above the first 20 per cent customers, they start facing challenges related to availability of charging infrastructure in their vicinity," he concluded. In smaller cities and towns, the case is even more compelling. "Most consumers in these cities reside in shared premises or rented homes with no private parking, which makes it difficult to fit home chargers," explains Mukesh Gupta, marketing head, MaxVolt Energy Industries. "Battery replacement is becoming increasingly popular as a viable option," he adds, citing solutions to problems such as unstable electricity supply and the establishment cost of a charging point. Mohal Lalbhai, co-founder and group CEO of MATTER, catches the economic pulse of the matter. Battery swapping models separate battery ownership from the vehicle, dramatically lowering the total cost of ownership (TCO). This makes EVs more financially accessible to India's vast middle and lower-middle-income demographics. "It also eliminates the long-term burden of battery degradation and replacement costs," he says. Sodium-ion batteries have long been perceived as less efficient than lithium-ion batteries due to their lower energy densities. As per a report by EY, with recent sodium-ion batteries reaching energy densities of 160 Wh/kg, they are becoming a more viable option. The Indian market for electric two and three-wheelers, which requires smaller batteries with energy densities between 130-150 Wh/kg, presents a significant opportunity for sodium-ion batteries. Sodium-ion and lithium-ion batteries are similar in cell construction, so production will need only slight assembly-line modifications, making it easier to switch. Overall, a sodium-ion battery is 20 to 30 per cent cheaper than an LFP (lithium iron phosphate) battery. As a cost-effective and sustainable alternative to LFP batteries, sodium-ion technology could play a crucial role in India's electric vehicle landscape. However, not everyone agrees that battery swapping is the answer for personal users. Madhumita Agrawal, founder & CEO, Oben Electric, sees the glass half full. She feels that for individual buyers in Tier II and III cities, home charging is still the most practical solution, thanks to India's improving electricity grid. "New Bharat is emerging with steady and widespread electricity access," she says. Oben Electric is banking on this shift by offering plug-and-play chargers compatible with standard 15-amp sockets and faster proprietary chargers for quicker refueling at home. The truth is, India's EV future won't rest on a one-size-fits-all solution. A hybrid model where portable charging and battery swapping co-exist is likely to dominate. Urban delivery riders might lean on swapping for speed, while a salaried commuter in a Tier II town may prefer the convenience of home charging overnight. However, for now, battery swapping may just be the bridge that helps India's next 100 million riders cross into the electric age.
Yahoo
25-05-2025
- Automotive
- Yahoo
Nio Stock: 3 Reasons to Buy, 3 Reasons to Sell
Nio's stock has plunged nearly 40% below its IPO price. The bulls believe its accelerating deliveries, rising margins, and low valuation make it a compelling buy. The bears aren't impressed by its persistent losses, high debt, and competitive headwinds. 10 stocks we like better than Nio › Nio (NYSE: NIO), a leading producer of electric vehicles (EVs) in China, was once a hot growth stock. Its American depositary receipts (ADRs) closed at a record high of $62.84 on Feb. 9, 2021, a 10-bagger gain from its initial public offering (IPO) price of $6.26 on Sept. 12, 2018. At the time, investors were impressed by its explosive growth, expanding vehicle margins, and unique battery swapping technology. But today, Nio's stock trades at less than $4. It ran out of juice as its deliveries slowed down, its vehicle margins declined, and it racked up more losses. Rising interest rates, tariffs, and the escalating trade war between the U.S. and China exacerbated that pressure. So, should value-seeking investors consider buying Nio's stock today? To find out, let's review the three reasons to buy and the three reasons to sell. The bulls think Nio is primed for a recovery for three reasons: Its deliveries are accelerating, its margins are stabilizing, and it looks dirt cheap relative to its growth potential. Deliveries more than doubled in both 2020 and 2021, but only increased 34% in 2022 and 31% in 2023. It attributed that deceleration to its supply chain constraints, tougher competition, and China's economic slowdown. But in 2024, its deliveries rose 39% to 221,970 vehicles. In the first four months of 2025, they increased 44.5% year over year to 65,994 vehicles. That acceleration was fueled by its gains in market share in China through its flagship ET-series sedans and new Onvo SUVs -- which were buoyed by its subsidies for repeat customers and discounts on older vehicles -- along with its gradual expansion into Europe. It also started delivering its first Firefly compact cars and premium ET9 sedans in April. Nio's annual vehicle margin dropped from its peak of 20.2% in 2021 to 9.5% in 2023. That decline, which was caused by a pricing war across the cooling EV market, convinced many investors that its days were numbered. But in 2024, its vehicle margin expanded to 12.1% as it reduced its material costs, used more in-house components (including its own smart-driving chips), streamlined its production, restructured some of its businesses, and sold more higher-margin sedans and SUVs. Those improvements offset a lot of the pressure from its subsidies, discounts, and European tariffs. Nio expects its namesake brand's vehicle margins to expand from 13.1% in the fourth quarter of 2024 to 20% in 2025, while its Onvo and Firefly sub-brands will initially operate at lower margins. It's also considering spinning off a majority stake in Nio Power, which handles its batteries and swapping stations, to further reduce its expenses and streamline its business. From 2024 to 2027, analysts expect Nio's revenue to have a compound annual growth rate of 28% as it more than halves its net losses. Those are some incredible improvements for a stock trading at less than 1 times next year's sales. The bears believe three challenges will prevent its stock from bouncing back: It faces lots of competition from bigger companies, it's still racking up steep losses, and it's shouldering a lot of debt. Nio might be gradually expanding its low single-digit share of China's new-energy vehicle market, but it's still a tiny underdog compared to market leaders like BYD, which grew its deliveries by 41% to 4.27 million vehicles in 2024, or Tesla, which boosted its deliveries in China by 9% to a record 657,102 in 2024. Even if Nio continues to expand, those bigger competitors could strike back hard with steep price cuts and aggressive promotions. That would make it even harder for Nio (which is expected to stay unprofitable for the foreseeable future) to prove its business model is sustainable. That's a bit worrisome when we consider that Nio's year-end debt-to-equity ratio (when dividing its total liabilities by its shareholder equity) surged from 2.4 in 2021 to 15.8 in 2024 as it took out more loans and raised more cash through convertible debt offerings. That debt could prevent Nio from achieving its ambitious expansion plans over the next few years. Nio faces a lot of near-term challenges, but its accelerating deliveries, rising vehicle margins, and expanding lineup suggest it can keep pace with its larger competitors. Its low valuation should also limit its downside potential, while any positive developments could drive its stock a lot higher. So for now, I believe the bull case makes more sense than the bear case, and investors who accumulate the stock today might be pleasantly surprised over the next few years. Before you buy stock in Nio, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Nio wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $639,271!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $804,688!* Now, it's worth noting Stock Advisor's total average return is 957% — a market-crushing outperformance compared to 167% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Leo Sun has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tesla. The Motley Fool recommends BYD Company. The Motley Fool has a disclosure policy. Nio Stock: 3 Reasons to Buy, 3 Reasons to Sell was originally published by The Motley Fool Sign in to access your portfolio
South China Morning Post
14-05-2025
- Automotive
- South China Morning Post
BMW, Toyota, Mercedes-Benz recall cars in China, Geely offers to buy Zeekr: 7 EV reads
We have put together stories from our coverage on electric and new energy vehicles from the past two weeks to help you stay informed. If you would like to see more of our reporting, please consider subscribing Carmakers including BMW, Toyota and Mercedes-Benz are recalling a total of 69,793 vehicles in China due to potential safety risks, according to the market regulator, as authorities heighten safety oversight in the industry following a recent fatal crash involving a Xiaomi electric vehicle (EV). Efforts by the Chinese electric vehicle (EV) industry to reduce consumer anxiety about driving ranges have pitted battery swapping technology against ultra-fast charging capabilities, even though both save time for drivers. Chinese car brand MG's stand at Everything Electric London, a home energy and electric vehicle show, in London on April 17. Photo: Xinhua After years of driving cars from European marques, one self-employed Londoner opted for a change in December and bought an electric vehicle (EV) made by Chinese carmaker MG.
