Japanese auto major Honda Motor Co on Thursday said it has set up a battery sharing service subsidiary in India with a capital of Rs 135 crore.
The new subsidiary, Honda Power Pack Energy India Pvt Ltd, will offer battery sharing service for small mobility, which will accelerate the penetration of electric vehicles (EV), and will also provide technical support to vehicle OEMs, the company said in a statement.
It will address EV related issues such as limited range, long charging time, and high cost of batteries, the company added.
"It is planned to start battery sharing service for electric auto rickshaws (E-auto) from the first half of 2022 in Bengaluru, Karnataka and expand operations in other Indian cities in a phased manner," the statement said.
In addition to the battery sharing service, the new company will closely work with multiple vehicle OEMs (Original Equipment Manufacturers), who wish to integrate Honda's battery into their vehicles, by providing necessary technical information for interface, it added.
"By expanding vehicle OEMs, applications, and service areas, it aims to onboard more drivers which will further enhance service convenience," it said.
The company's battery sharing service subscribers can avail services from the nearest battery swapping station to exchange discharged battery for the fully charged ones.
"By this convenient service, drivers need not to wait for charging and can get back on the road in marginal time," Honda said.
The company said its all new portable battery 'Honda Mobile Power Pack e:' will be made in India and the new subsidiary will seek to encourage the use of renewable energy and contribute to the carbon neutrality in the country.