[8][9] Battery swapping technology helps accelerate the faster adoption of electric vehicles due to the lower upfront purchase price of electric vehicles, and the lower running costs - particularly in the case of commercial applications.

The company is co-founded by Chetan Maini, the founder of the Reva Electric Car Company[13] (now known as Mahindra Last Mile Mobility Limited), Uday Khemka, Vice Chairman of SUN Group, and Ajay Goel, Co-Founder & Executive Director.

Vitol, the Dutch oil trading organization, is also an investor in the company having made an investment of $50 million in 2021.

This new model of battery offers a higher capacity compared to earlier generations and comes with enhanced safety features.

Ltd.,[35] and a few others) across vehicle platforms including two-wheelers, three-wheelers, and four-wheelers to bring battery swapping to a wider user base across India.