Indofast Partners with Motovolt to Launch Battery-Swappable Electric Scooter

Indofast Energy, a joint venture between Indian Oil Corporation and Sun Mobility, has announced a partnership with Motovolt Mobility to integrate battery-swapping technology with the latter's MVS7 electric scooter. The collaboration aims to address cost barriers and charging infrastructure challenges in India's electric vehicle market.

The partnership centers on Motovolt's MVS7, described as a multi-utility electric scooter with a top speed of 50 km/hr and an 80-85 km range per charge. The vehicle features a 2.5kW peak power motor delivering 120 Nm of torque, along with 150 liters of storage capacity and a 150 kg payload limit. The scooter includes five riding modes and is designed for both personal transportation and commercial applications.

Under the arrangement, customers can purchase the MVS7 without the battery cost through Indofast's Battery-as-a-Service model. This approach separates the battery expense from the vehicle price, potentially reducing upfront costs for buyers. Users can then swap depleted batteries at Indofast's network of charging stations rather than waiting for traditional charging.

Rajat Malhan, Senior Vice President at Indofast Energy, stated that the partnership addresses key obstacles to electric vehicle adoption, including range concerns and charging infrastructure limitations. Tushar Choudhary, Founder and CEO of Motovolt Mobility, indicated the collaboration supports the company's focus on utility-oriented vehicles.

The companies have set targets of selling approximately 20,000 MVS7 units in the business-to-business sector and 5,000 units in the consumer market over the next 12 months. Motovolt plans to expand its dealership presence in Delhi NCR, Bengaluru, Hyderabad, and Chennai to support these sales goals.

Indofast Energy operates over 900 battery-swapping stations across more than 23 cities and processes over one million battery swaps monthly. The company was established as a 50:50 joint venture between Indian Oil Corporation Limited and Sun Mobility to develop battery-swapping infrastructure for two-wheelers, three-wheelers, and small four-wheelers.

Motovolt Mobility, founded in 2019 and headquartered in Kolkata, has delivered over 32,000 vehicles. The company reports its vehicles have collectively traveled more than 65 million kilometers, contributing to fuel savings of approximately 1.7 million liters and carbon emission reductions of 3.71 million kilograms.

The battery-swapping approach represents an alternative to conventional charging methods, allowing users to exchange depleted batteries for charged ones in minutes rather than hours. This model aims to reduce vehicle downtime and address concerns about charging infrastructure availability in urban areas.