Japanese car major Honda Motor Company announced the setting up of a new subsidiary for battery-sharing service in India, to leverage opportunities in the emerging electric vehicle space.
The new subsidiary Honda Power Pack Energy India will be established with a capital of `Rs 135 crores offering battery-sharing service which will accelerate the penetration of EVs by solving three issues of EVs i.e., limited range, long charging time and high cost of batteries.
In addition to the battery sharing service, the new company will closely work with multiple vehicle OEMs who wish to integrate Honda's battery into their vehicles, by providing necessary technical information for the interface.
It aims to onboard more drivers which will further enhance service convenience. The battery will be made in India and by accelerating electrification of small mobility, Honda Power Pack Energy India seeks to encourage the use of renewable energy and contribute to carbon neutrality in India.
It is planned to start battery sharing service for electric auto rickshaws from the first half of 2022 in Bengaluru and expand the operations in other Indian cities in a phased manner.
The company said, “By this convenient service, drivers need not to wait for charging and can get back on the road in marginal time.”
