Under the partnership, Tata Power-DDL will allocate dedicated space for setting up battery swapping stations
The EV startup will be responsible for designing, procuring, installing, and maintaining these stations
Last month, Baaz Bikes raised $8 Mn in its Series A funding round led by Singapore-based BIG Capital to expand and strengthen its ebike offerings for last-mile delivery
Electric vehicle (EV) startup Baaz Bikes has inked a pact with Tata Power Delhi Distribution Limited (Tata Power-DDL) to set up EV battery swapping stations across north and northwest Delhi.
As per news agency PTI, Tata Power-DDL will allocate dedicated space for setting up battery swapping stations while the battery swapping provider will be responsible for designing, procuring, installing, and maintaining these stations.
The memorandum of understanding (MoU) further states that Baaz Bikes will initially set up three battery swapping stations at Tata Power-DDL’s grid substations in Rohini Grid-5, Rohini Grid-23 and Rohini Grid-28 to boost the adoption of EVs in the national capital.
“By leveraging our energy infrastructure expertise and Baaz Bikes’ advanced battery swapping technology, this partnership is a step forward in accelerating electric two-wheeler adoption and advancing environmental sustainability,” Tata Power-DDL CEO Gajanan S Kale said.
Founded in 2019 by Anubhav Sharma, Shubham Srivastava, Karan Singla and Abhijeet Saxena, Baaz Bikes aims to enhance EV mobility of gig workers with low-cost solutions. It provides affordable EV bikes, chargeable batteries and also installs battery swapping facilities.
Last month, Baaz Bikes raised $8 Mn in its Series A funding round led by Singapore-based BIG Capital to expand and strengthen its ebike offerings for last-mile delivery.
Baaz Bikes aims to capitalise on the burgeoning gig worker economy in India. As per a NITI Aayog report, the gig workforce is expected to expand to 2.35 Cr by financial year 2029-30 (FY30) from 77 Lakh in FY21.
Overall, the Indian EV market, as per Inc42, is projected to soar to a size of over $110 Bn by 2030, buoyed largely by growing push from the Centre and states and a slew of differentiated offerings launched by startups in the cleantech space.
On Friday (December 21), auto giant Bajaj Auto launched two new electric variants of its iconic Chetak scooter.
