Tata Power-DDL and Baaz Bikes Collaborate to Install Battery Swapping Stations

Nitin Konde, Varun Bhardwaj

Dec 24, 2024 — 3 min read

Tata Power-DDL and Baaz Bikes to Set Up Battery Swapping Stations

Tata Power Delhi Distribution Limited (Tata Power-DDL) and electric vehicle (EV) startup Baaz Bikes have signed an agreement to install EV battery swapping stations throughout north and northwest Delhi. According to a news agency, the battery swapping supplier will be in charge of planning, acquiring, installing, and maintaining these stations, while Tata Power-DDL will set aside a specific area for their installation. In order to encourage the use of EVs in the nation's capital, Baaz Bikes will first install three battery swapping stations at Tata Power-DDL's grid substations in Rohini Grid-5, Rohini Grid-23, and Rohini Grid-28, according to the memorandum of understanding (MoU). According to Gajanan S. Kale, CEO of Tata Power-DDL, this collaboration is a step towards increasing the uptake of electric two-wheelers and promoting environmental sustainability by utilising Baaz Bikes' cutting-edge battery swapping technology and Tata Power-DDL's experience in energy infrastructure.

Future Vision of Baaz Bikes

Anubhav Sharma, Shubham Srivastava, Karan Singla, and Abhijeet Saxena founded Baaz Bikes in 2019 with the goal of improving gig workers' EV mobility with affordable solutions. It offers charging batteries, reasonably priced EV bikes, and battery changing stations. In order to enhance and fortify its e-bike options for last-mile delivery, Baaz Bikes raised $8 million last month in its Series A fundraising round, which was led by Singapore-based BIG Capital. Baaz Bikes wants to take advantage of India's growing gig workforce market. According to a study by NITI Aayog, the gig economy is predicted to grow from 77 lakh in FY21 to 2.35 crore by FY30.

India’s EV Sector

The electric vehicle (EV) market in India is expanding quickly thanks to government subsidies, growing environmental awareness, and technology breakthroughs. India hopes to dramatically boost EV adoption through programs like the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme, transforming its transport system in the direction of sustainability and innovation.

India's goal is to increase the percentage of EV sales to 30% for private automobiles, 70% for commercial vehicles, 40% for buses, and 80% for two-wheelers and three-wheelers by 2030. By 2030, there will be 80 million EVs on Indian roadways, which is an ambitious goal. Additionally, India's 'Make in India' campaign aims to produce all EVs domestically.

The global market for electric vehicles was estimated to be worth US$255.54 billion in 2023. It is expected to develop at a noteworthy compound annual growth rate (CAGR) of 23.42% from 2024 to 2033, reaching over US$ 2,108.80 billion. Sales of electric vehicles in India increased by 20.88% to 1.39 million units in May 2024.

The number of electric vehicles sold in India increased by 49.25% to 1.52 million units in 2023. Even though the industry is still in its infancy, it is growing steadily. The Indian EV market is expected to grow at a 66.52% compound annual growth rate (CAGR) from US$ 3.21 billion in 2022 to US$ 113.99 billion by 2029, according to Fortune Business Insights.