by Service Type (Subscription Model and Pay-Per-Use Model) and Vehicle Type (Two-Wheelers, Three-Wheelers, Passenger Cars, and Commercial Vehicles): Global Opportunity Analysis and Industry Forecast, 2020–2027 . As per the report, the global electric vehicle battery swapping industry generated $118.44 million in 2019, and is projected to reach $409.99 million by 2027, growing at a CAGR of 22.3% from 2020 to 2027.
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Drivers, restraints, and opportunities
Rise in demand for electric vehicles, lack of sufficient public charging facilities, and reduced time for electric vehicle charging have boosted the growth of the global electric vehicle battery swapping market. However, the high initial set-up & operating cost of battery swapping stations and differentiation in battery technology and design hinder the market growth. On the contrary, advent of advanced
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Thada managing director Syaiful Hassan Nodin (left) and Oyika president Carl Wong at the memorandum of understanding signing ceremony on Wednesday. Photo supplied
Thada, Oyika ink deal to supply Kingdom with electric scooters
Thu, 1 April 2021
Malaysia s Thada has agreed to produce 1,000 electric scooters this year for Singaporean-owned Oyika Pte Ltd to outfit with its battery-swap technology and put on the market in the capital, playing a part in the government’s environmental conservation endeavours.
A memorandum of understanding was signed to this effect by Oyika president Carl Wong and Thada managing director Syaiful Hassan Nodin on March 31 as part of their business expansion in Southeast Asia, Thada said in a press release.