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The mushrooming need for Li-ion battery-powered e-rickshaws will drive the Indian electric vehicle battery swapping market growth during the forecast period.
Global EV Battery Swapping Market Revenue Surged To $148 2 Million in 2020: P&S Intelligence prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
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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.
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