Battery Smart, an electric vehicle (EV) battery technology startup founded by IIT-Kanpur graduates Pulkit Khurana and Siddharth Sikka, has become a leading player in India’s battery-swapping sector. The Delhi-based venture now facilitates over one lakh swaps daily across a network of 1,500 stations in more than 50 cities.
Founded in 2019, Battery Smart aims to make EV adoption simple, economical and accessible through a partner-led model. The startup addresses key challenges for two and three-wheeler EVs, including high battery costs, limited charging infrastructure, and long charging times. Batteries account for nearly 40% of an EV’s production cost, making the swap model particularly appealing.
“Lead-acid batteries required replacement every six months, and drivers spent hours charging every night,” says Pulkit. “Battery swapping eliminates the need to own the battery, reducing upfront costs by up to 40%.”
Battery Smart uses interoperable lithium-ion batteries compatible with over 200 vehicle models. Users can locate the nearest swap station via the Battery Smart app, swap a depleted battery for a fully charged one in under two minutes, and pay seamlessly. A single swap costs between Rs 100 and Rs 150, with subscription plans also available.
The partner-led model allows rapid expansion by leveraging existing infrastructure, such as small businesses and corner shops, with Battery Smart handling investments in chargers and batteries. Stations go live within six weeks, enabling partners to break even on licensing fees within a year.
Safety is a top priority. Station operators receive comprehensive training, and each battery is monitored in real-time through an IoT-enabled Battery Management System. 24×7 support is provided to drivers and partners.
Battery Smart has recorded 86 million swaps to date and revenue of Rs 63.5 crore in FY23. The startup is playing a vital role in India’s EV ecosystem, supporting last-mile delivery, freight, and public transit while helping the country move toward 30% fleet electrification by 2030.
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