Mooving enters the Marathon to build India's Smartest Battery Swapping Network for Electric Vehicles
Gurugram (Haryana) [India], October 7 (NewsVoir): With installations across more than 20 cities and more than 5000 electric vehicles on its platform, Mooving's launch in Gurugram has been rather impactful.
Over the past two years, it has undertaken multiple POCs to refine its Value Proposition. It is today one of the leading providers of Battery Swapping and Battery Subscription (BAAS - Battery As A Service) for Electric 2W and 3W. This is supporting India's emerging EV market by a significant margin. Mooving is an integrated platform that provides options for the end user to Adopt Electric Vehicles in a Risk-Free Manner, true to its Tag Line EV Made Easy. The key technology and product offerings of Mooving have already been developed and demonstrated to have a strong Product Market Fit owing to investments of up to $15 million till Pre-Series A in equity and debt. The company is Co-founded by Rakesh Malhotra, Founder SAR Group, and Tanvir Singh, erstwhile Founder of Solar Cube India and a serial entrepreneur.
The company also has K. Vijayakumar, previously President at Greaves cotton. "India has taken massive targets for EV Adoption, however, the reality on the ground is very different due to customer apprehensions and perceived risks towards quality, range, and safety. At Mooving, we are focused on driving the mass market shift to electric mobility, and battery swapping is a clear path to solving India's mobility and energy demands in a safe, sustainable, and scalable way. I am excited to be launching our Smart Battery Swapping Platform through which end consumers can now embrace a new era in smart mobility using our swap-ready smart vehicles powered by Battery Swapping," said Tanvir Singh, Co-founder of Mooving. Mooving has adopted a platform strategy to be the largest and densest Battery Swapping network provider for EVs in the country. By the completion of FY24, it intends to power 50k electric 2W and 25k electric 3W; on the back of key products is a Smart swappable battery system and an Intelligent automated swapping station. When developing swappable batteries for subcontinental environments and customers, factors like high-temperature tolerance, increased mileage, ruggedness, and durability were all taken into account. Mooving also has a fully Automated battery swapping mechanism for these batteries to ensure a wider B2C adoption through a Self Service Model.
The government will continue to give battery-swapping infrastructure and EV financing more attention since Niti Aayog published the draft battery-swapping policy earlier this year post the budget announcement of 2022. For the purpose of expanding across all metro cities and investing in the further refinement of its Tech and Product stack, Mooving is currently raising its Series A round for growth and is already engaged with a few prominent Institutional Investors. Mooving is building the Battery Swapping Network for India's Electric Vehicles. It aims to be the leader in the space with a hyper-focus on enabling Risk-Free EV Ownership through its platform offering Vehicle As A Service (VaaS) powered by Battery Swapping. Founded in 2020, the company is Co-founded by Rakesh Malhotra, Founder and Mentor, SAR Group of companies, and Tanvir Singh, who comes with a wealth of experience in the Cleantech Sector, having founded his first startup Solar Cube in 2012 and being part of the founding team at Amplus Solar till its successful acquisition by Petronas Group. Leveraging over three decades of experience through deep strategic partnerships with battery and vehicle OEMs for manufacturing and their PAN India presence, Mooving is rightly poised to be the leader in Battery Swapping and is accelerating the evolution of Smart batteries, Intelligent Swap Stations, and Subscription Ready Vehicles, made for Indian customers and conditions. Focused on e2W and e3W customers,
Mooving has over 5000 vehicles deployed on its Platform in 20 cities having powered over 30 million clean kilometers in the country. With a strong belief in 'Happy Team makes for a Successful Company', Mooving aspires to be the #HappiestEVCompany
To know more, please visit www.mooving.com.
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