Hero Electric partners Sun Mobility for its battery swapping technology

Hero Electric on Monday announced a partnership with Sun Mobility, a leading provider of battery swapping technology for electric vehicles (EVs), to sell electric two-wheelers integrated with the latter’s swappable battery technology.
As part of the partnership, Hero Electric and Sun Mobility will start selling jointly developed vehicles in the next three months with a target of around 10,000 electric two-wheelers by the end of this year, as per a press statement.

The two companies will create an ecosystem where the customer can access batteries with latest technologies throughout the product lifecycle without the need of every purchasing a battery, as per a press statement. The companies will also collaborate on financing options for EV buyers.

“Battery Swapping is emerging as a good catalyst for the exponential growth of the e-two-wheelers in India,” said Sohinder Gill, CEO, Hero Electric. “It reduces the upfront cost of buying a two-wheeler, eliminates the range anxiety and the apprehensions about the useful life of the batteries.”

The technology especially makes sense for the B2B customers, he said, as the swapping stations can be placed in the working zones for the riders to allow them to run their bikes without waiting for the recharging of the batteries.

Finance Minister Nirmala Sitharaman last month announced the formulation of a Battery Swapping Policy that will mainstream the technology in hopes of speeding up EV adoption in India.

On its part, Sun Mobility has 70 battery swapping points across more than 15 Indian cities, which are used primarily by electric three-wheeler operators. It has also partnered with Piaggio and Ashok Leyland.