IndoFast Energy, a joint venture between Indian Oil Corporation and Sun Mobility, has announced a strategic 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 through Battery-as-a-Service (BaaS) model, targeting 25,000 unit sales in the next 12 months.
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Revolutionary Partnership: IOCL Power Meets Innovation
Infrastructure Dominance: 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.
Market Positioning: This partnership represents a paradigm shift in Indian e-mobility, combining IndoFast’s extensive QIS battery-swapping infrastructure with Motovolt’s newly launched MVS7—touted as India’s first multi-utility electric scooter.
MVS7 Specifications: Engineering Excellence Meets Practicality
| Feature | Specification | Advantage |
|---|---|---|
| Top Speed | 50 km/hr | Ideal for urban commuting |
| Range | 80-85 km per charge | Covers daily transportation needs |
| Motor Power | 2.5kW peak power | 120 Nm of torque delivery |
| Storage Capacity | 150 liters | Massive cargo capability |
| Payload Limit | 150 kg | Commercial application ready |
| Riding Modes | 5 different modes | Versatile usage scenarios |
Battery-as-a-Service Revolution: Eliminating EV Adoption Barriers
Cost Reduction Strategy: The collaboration centers on a Battery-as-a-Service (BaaS) model, which separates battery ownership from the vehicle. This approach significantly lowers upfront costs and provides users with a flexible, pay-per-use option, appealing to both individual commuters and commercial delivery segments.
Industry-First Innovation: The partnership introduces a lifetime battery warranty—an industry-first move aimed at enhancing consumer confidence and long-term value, addressing one of the primary concerns about EV ownership.
Market Scale: Ambitious Growth Targets
Sales Projections: 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, representing a significant market penetration strategy.
Network Expansion: Motovolt plans to expand its dealership presence in Delhi NCR, Bengaluru, Hyderabad, and Chennai to support these ambitious sales goals, leveraging IndoFast’s established infrastructure network.
Industry Context: $22.72 Billion Market Opportunity
Global Growth: The battery swapping market is projected to reach USD 22.72 billion by 2035, from USD 1.46 billion in 2025, at a CAGR of 31.5% according to MarketsandMarkets research. The rising demand is driven by advancements in modular battery architecture and fast energy replenishment requirements.
Indian Market Leadership: The India Battery Swapping for Electric Two-Wheelers Market is projected to register a CAGR of 18% during the forecast period (2025-2030) per Mordor Intelligence analysis, with companies like Sun Mobility, Ola Electric, and Lithion ion leading the segment.
Strategic Leadership Vision
Transformational Impact: Rajat Malhan, Senior Vice President at IndoFast Energy, emphasized: “This isn’t just a partnership; it’s a paradigm shift for Indian e-mobility. We are removing the biggest hurdles to EV adoption and enabling uninterrupted mobility and economic opportunity.”
Sustainable Mobility Focus: Tushar Choudhary, Founder and CEO of Motovolt Mobility, stated: “As a domestic OEM dedicated to transforming mobility, we are excited to join hands with IndoFast as a step towards green mobility.”
Technology Integration: Smart Infrastructure Meets Smart Vehicles
Advanced Features: The MVS7 features a unique double-cradle steel frame, water-resistant display, and advanced riding modes, making it perfect for both personal use and commercial deliveries with its substantial storage space.
Network Benefits: Users gain access to IndoFast Energy’s extensive battery-swapping network, eliminating concerns about range anxiety and long charging times through the pay-per-use model.
Government Policy Support: Policy Winds Favoring Growth
Regulatory Framework: In January 2025, The Ministry of Power issued comprehensive guidelines to promote battery swapping and charging infrastructure for EVs across the country, creating a supportive regulatory environment.
Infrastructure Development: The initiative aims to establish a robust framework for battery swapping, enhancing the efficiency and convenience of EV operations and supporting India’s transition to sustainable mobility.
Competitive Ecosystem: Building Industry Standards
Market Leadership: IndoFast Energy remains committed to delivering technologically advanced, convenient, and sustainable solutions to drive green mobility in India, with plans to deploy 50,000+ vehicles in the next year via fleet partners and driver-owners.
Partnership Strategy: This collaboration follows successful partnerships with other OEMs like Greaves Electric Mobility for the Ampere Magnus SW.S and Odysse Electric for the SNAP scooter, demonstrating the scalability of the battery swapping model.
For comprehensive coverage of India’s battery swapping revolution, explore our Battery Swapping Technology and Electric Two-Wheeler Market. Stay updated with IOCL EV Initiatives and Commercial EV Solutions.
Bottom Line: The IndoFast-Motovolt partnership represents a transformational moment in Indian EV adoption, combining established energy infrastructure with innovative vehicle technology to create an accessible, scalable solution that addresses the core barriers to electric mobility through Battery-as-a-Service innovation.
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