Recent innovations in BESS (Battery Energy Storage System) technology has been a fillip to newer business models in the EV industry. ‘Battery as a Service’ is one such new business in the Indian EV industry. We expect the BaaS business model to attract remarkable participation by the industry players. Battery as a Service is yet to take off even in the most advanced economies. Indian society is a potpourri of numerous lifestyles and hence it provides an avenue for multiple business models to try their luck. India has an opportunity to lead the world in adoption of battery swapping technology and it is upon all the stakeholders to seize upon this opportunity.
This publication outlines (i) the status of battery swapping, (ii) the government support measures, (iii) the prevalent business models, and (iv) the compliances and regulatory requirements.