RACEnergy, a supplier of battery-swapping technology and EV retrofit kits, has inaugurated its first battery swap station in Hyderabad in alliance with Hindustan Petroleum Corporation.
The startup had set up its first battery-swapping station two months ago in Tirupati, in association with The New & Renewable Energy Development Corporation of Andhra Pradesh.
RACEnery plans to build a network of 500 battery swap stations across India by mid-2023. One hundred of them are planned for Hyderabad. Sun Mobility, another EV solutions provider, and two-wheeler startup Bounce are the other players in the emerging battery swapping service market.
“A robust swapping infrastructure is essential to accelerate the adoption of electric vehicles, and HPCL’s network of retail outlets will allow us to reach every corner of the state with ease,” Arun Sreyas, CEO and co-founder, RACEnergy, said.
The battery swap stations and swappable batteries provide an integrated solution that RACEnery says is economical and scalable, wherein drivers can swap their discharged batteries with charged ones within 2 minutes.
To bring vehicles onboard its platform, RACEnergy has also developed retrofit kits that convert existing ICE autorickshaws into electric vehicles that will be compatible with its swapping network. By clubbing these two technologies, RACEnergy claims it is able to provide a similar experience of refuelling ICE vehicles, but at 50% of the earlier operating cost, and with ‘minimal’ upfront costs.
