RACEnergy, a deep-tech electric vehicle infrastructure company for battery swapping, has inaugurated its 10,000 sq. ft. battery production facility in Hyderabad. Equipped with a 50 MWh battery production plant, it can manufacture 30,000 batteries per annum.
This aligns with RACEnergy's goal of targeting the production of 80,000 two and three-wheelers by 2025, representing a significant step towards the company's target of having 250,000 swappable batteries in circulation in the same timeframe.
RACEnergy recently obtained the AIS-156 Phase 2 certification for its battery pack, making it the first swappable company to do so. The certification ensures enhanced performance and improved safety for its battery technology.
"The launch of our new facility marks a significant milestone in our journey to revolutionise the electric mobility sector and will cater to 25% of our goal of targeting 80,000 two and three-wheelers by 2025. With 500 swaps on our network daily, our facility will empower us to efficiently address the rising demand and expand our market presence globally," said Arun Sreyas, Co-founder of RACEnergy.
Gautham Maheswaran, Co-founder of RACEnergy highlighted the facility's potential to strengthen the company's market presence and network, stating, "We are committed to localising critical components of the EV value stream, and the new facility will enable us to achieve in-house production of EV and battery parts. With increased production capacity, we can extend the usage of batteries and serve both domestic and international markets."
Since its inception in 2019, the company has been addressing critical challenges such as the high cost of vehicles, long-charging times, and range anxiety through its innovative battery-swapping technology, which enables 4-second swaps, the press release stated.