EV Startup Baaz Bikes Join Hands with Tata Power-DDL, Plans More Battery Swapping Stations

Electric vehicle (EV) startup Baaz Bikes has signed an agreement with Tata Power Delhi Distribution Limited (Tata Power-DDL) to establish EV battery swapping stations in north and northwest Delhi.

Baaz Bikes, founded in 2019 by Anubhav Sharma, Shubham Srivastava, Karan Singla, and Abhijeet Saxena, intends to improve EV mobility for gig workers by providing low-cost alternatives. It sells affordable EV bikes, charging batteries, and installs battery switching stations.

According to PTI, Tata Power-DDL will set aside special space for battery switching stations, with the battery swapping provider responsible for designing, sourcing, installing, and maintaining these stations.

Related: Southeast Asian Arm of Cardekho Raises $60 Mn in A Funding Round, Led By Navis Capital Partners And Dragon Fund

According to the memorandum of understanding (MoU), Baaz Bikes will initially install three battery swapping stations at Tata Power-DDL’s grid substations in Rohini Grid-5, Rohini Grid-23, and Rohini Grid-28 to increase EV adoption 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,” said Gajanan S Kale, CEO of Tata Power-D.

Baaz Bikes raised $8 million last month in a Series A fundraising round headed by Singapore-based BIG Capital to develop and strengthen its ebike services for last-mile delivery.

Baaz Bikes hopes to capitalize on India’s expanding gig worker economy. According to an NITI Aayog research, the gig workforce is predicted to increase to 2.35 crore by fiscal year 2029-30 (FY30) from 77 lakh in FY21.

According to reports, the Indian EV industry is expected to grow to more than $110 billion by 2030, driven mostly by increased government and state support and a plethora of innovative services developed by cleantech firms.

On Friday (December 21), automaker Bajaj Auto unveiled two new electric versions of its legendary Chetak scooter.