Market Share of Battery-Swapping For Electric Two-Wheeler Industry
The electric two-wheeler market for battery swapping is characterized by fragmentation and intense competition, driven by a mix of international and domestic players. Key players in this ecosystem include Gogoro Inc., Immotor Technology, Oyika Pte Ltd, Kwang Yang Motor Co. Ltd, Sun Mobility, Greenpack GmbH, Bounce Infinity, Battery Smart, Spiro, Selex Motors, and Swobbee GmbH, among others. These companies invest significantly in installing battery swapping stations for two-wheelers, aiming to bolster their brand presence and offer customers cost-effective solutions for recharging their two-wheeler batteries.
- In January 2024, Gogoro partnered with Copec, targeting market penetration in Chile and Colombia by Q2 2024. This collaboration focuses on expanding battery swapping and two-wheeler operations in these nations. Copec set to establish two battery-swapping stations for Gogoro's intelligent electric scooters in Santiago and Bogota.
- In December 2023, Yamaha unveiled Enyring, a European venture poised to deliver subscription-based battery-swapping services. While headquartered in Germany, Enyring's operations are slated to kick off in 2025, with plans for an additional base in the Netherlands.
The market anticipates the entry of new players, challenging established ones. Many electric two-wheeler manufacturers are keen on operating battery-swapping stations, recognizing their potential for generating recurring revenue.
Major Players
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Gogoro Inc.
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Immotor Technology
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Oyika Pte. Ltd.
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Kwang Yang Motor Co., Ltd.
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Sun Mobility
*Disclaimer: Major Players sorted in no particular order
