Last-Mile Mobility Stimulated by E-Two- and Three-Wheeler Battery Swapping

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The growing pollution levels in many countries are the primary factors fueling the popularity of electric vehicles. Moreover, the rising requirement for electric two- and three-wheelers in ride hailing and sharing services and the growing deployment of electric three-wheelers for goods and passenger transportation are pushing up the sales of electric two- and electric three-wheelers across the world. The lack of proper charging facilities and the frequent charging requirements of these vehicles pose big problems for vehicle owners.


Apart from the above-mentioned factors, the high costs of electric vehicles, mainly because of the high prices of their batteries, which constitute nearly 30–50% of the total vehicle cost, are also discouraging transport agencies and individuals from buying these vehicles. At present, the prices of lithium-ion batteries are around $250/kWh and as per experts, these prices would fall to $100/kWh in the future, which would still be considerably higher than what the average person would be able to afford.

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As a result, many organizations are focusing on developing vehicles equipped with battery-swapping features. This eliminates the requirement for the ownership of batteries by the owners of the electric vehicles. Instead, the batteries are owned and supplied by the swapping service providers. The separation of the batteries from the electric vehicles reduces the costs of electric vehicles. This, in turn, makes the prices of electric vehicles either similar to or in some cases, lower than internal engine combustion (ICE) automobiles.

Because of the aforementioned factors, the global EV battery swapping for two- and three-wheeler market is predicted to surge from 2020 to 2030. The growing popularity of electric scooter sharing service is a key factor fueling the progress of the market. These services have witnessed a sharp rise in popularity in North America in recent years. This is because these services offer better last-mile connectivity and hyper-localized services in comparison to other shared mobility services. 

Furthermore, the size of the battery packs required in these vehicles is much smaller than the packs needed in other EVs, which makes battery swapping faster and easier in these vehicles. The governments of many countries started providing subsidies, tax exemptions, and purchase rebates for promoting the deployment of electric motorcycles and scooters. For example, the Indian Government has recently launched the FAME-2 scheme for encouraging the usage of electric vehicles in the country.

Based on service type, the EV battery swapping for two- and three-wheeler market is divided into subscription and pay-per-use models. Between the two, the subscription model category is expected to demonstrate faster growth in the market in the upcoming years. The lack of proper charging facilities and infrastructure, the rising requirement for two-wheelers in shared mobility services, and the high prices of lithium-ion batteries are the main factors causing the growth of this category in the market.

Across the globe, the EV battery swapping for two- and three-wheeler market is currently registering the highest growth in Asia-Pacific (APAC), as per the observations of the market research firm, P&S Intelligence. In this region, the market is presently booming in India and China, mainly because of the high population density and the high usage of two-wheelers in these countries. The market is also rapidly progressing in Taiwan, on account of the growing popularity of battery swapping in the country.

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Hence, it can be said without any doubt that the market would demonstrate rapid expansion throughout the world in the forthcoming years, primarily because of the growing deployment of electric two- and three-wheelers and the rising requirement for battery swapping, on account of the lack of proper charging infrastructure and high prices of lithium-ion batteries, around the world.

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