Battery Smart

Battery Smart is India’s largest battery-swapping network for electric two- and three-wheelers, revolutionizing last-mile mobility through its innovative Battery-as-a-Service (BaaS) model. Aims to eliminate range anxiety and reduce upfront EV costs by providing two-minute battery swaps at its partner stations. With robust funding, strategic partnerships and a mission-driven approach, it offers a compelling case for investors and stakeholders in sustainable mobility.

Core Products & Services

• Battery Swapping: Instant exchange of depleted Li-ion batteries for fully charged ones at 1,400+ partner stations.

• Pay-Per-Use Model: Drivers pay per swap, avoiding upfront battery costs (reduces EV purchase price by ~40%).

• Technology Platform: Real-time tracking, IoT-enabled batteries and AI-driven station optimization.

• Partnership Network: Collaborations with local businesses to host swap stations, creating income opportunities.

Business Model & Revenue Streams

• Pay-Per-Use Swaps: Drivers pay ₹25–₹50 per swap, depending on battery capacity.

• Subscription Plans: Monthly packages for high-frequency users (e.g., delivery fleets).

• B2B Partnerships: OEM Collaborations: Integrates swapping tech with EV manufacturers.

• Station Partner Fees: Revenue sharing with local businesses hosting swap stations.

• Government Incentives: Avails subsidies under India’s FAME-II scheme for EV infrastructure.

Top Clients & Partnerships

• Key Clients & Partners: Zepto (strategic partnership for deploying 1,000 EVs), major electric two- and three-wheeler OEMs and large delivery/logistics fleets.

• Marquee Contracts: Landmark deal with Zepto for fleet electrification; deep relationships with leading EV manufacturers.

• Client Concentration & Diversification: Broad and growing client base across multiple cities and industries; strategic focus on expanding with delivery and logistics partners to reduce concentration risk.

Future Outlook & Strategic Priorities

• Growth Drivers: Expansion into new cities, deeper penetration in Tier 2/3 markets, launch of new interoperable battery standards and scaling of strategic partnerships (reflecting recent market trends).

• Risks & Headwinds: Regulatory changes in EV policy, macroeconomic fluctuations affecting commercial EV adoption and technological disruption from new battery or charging solutions.

• Management Targets: Aim to maintain leadership in battery swapping, double the swap station network and accelerate fleet electrification; capital allocation focused on technology, network expansion and talent.