Published Jun 29, 2023 | 3:26 PM ⚊ Updated Jun 29, 2023 | 3:26 PM
RACEnergy facility inaugurated in Hyderabad. (racenergy.in)
RACEnergy, a Hyderabad-based deep-tech electric vehicle infrastructure company for battery swapping, has inaugurated its new 10,000 square feet battery production facility in Hyderabad.
The facility inaugurated on Wednesday, 28 June, is equipped with a 50 MWh battery production plant, which can manufacture 30,000 batteries per annum, the company said in a release.
This milestone aligns with RACEnergy’s goal of targeting 80,000 two and three-wheelers by 2025, representing a significant step towards their target of having 2,50,000 swappable batteries in circulation in the same timeframe, it said.
The new facility will provide a collaborative environment for engineers and designers to push the boundaries of innovation, further developing cutting-edge battery technology for electric vehicles (EVs) and significantly expanding the company’s production capacity, it said.
“The launch of our new facility marks a significant milestone in our journey to revolutionise the electric mobility sector and will cater to 25 percent of our goal of targeting 80,000 two and three-wheelers by 2025,” said Arun Sreyas, Co-Founder of RACEnergy.
“With 500 swaps on our network daily, our facility will empower us to efficiently address the rising demand and expand our market presence globally,” he said.
Gautham Maheswaran, Co-Founder of RACEnergy said: “We are committed to localising critical components of the EV value stream, and the new facility will enable us to achieve in-house production of EV and battery parts.”
“With increased production capacity, we can extend the usage of batteries and serve both domestic and international markets. The facility’s strategic setup aligns perfectly with our goal of expanding our battery-swapping solutions across multiple vehicle segments,” he added.
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