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India's EV battery-swapping market charges expectations of growth

Japan firms including Terra Motors tie up with local partners to enter market

Honda will soon start a battery sharing business for electric motorcycles in India. (Photo courtesy of Honda)

MUMBAI -- Strong growth prospects in India's market for electric three-wheel and two-wheel vehicles are driving a rush to start battery-swapping services in the emerging country, luring Japanese companies.

Terra Motors, a Japanese electric vehicle manufacturer focused on South Asian markets, has teamed up with Bengaluru-based Sun Mobility, a local battery developer, to build battery swap stations. A local unit of Honda Motor is set to roll out a battery-sharing service in the country.

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