Can you elaborate about Mooving’s key portfolio and what differentiates its fleet battery lifecycle management from others in the market?
Mooving has emerged as India’s fourth-largest player in the Battery Swapping and Battery-as-a-Service (BaaS) segment. What truly differentiates the company is its smart battery swapping ecosystem, which is deeply integrated with lifecycle intelligence for batteries. This approach enables not just operational scalability but also long-term reliability for commercial electric vehicle users.
At the core of Mooving’s model is its ability to track real-time battery performance using IoT, including insights down to the cell level rather than just pack-level data. This level of granularity is essential for understanding the actual stress and performance patterns of batteries deployed in high-utilisation environments.
In addition, Mooving has built advanced analytical models that predict battery degradation and failure trends. This predictive capability allows the company to schedule preventive maintenance proactively, reducing downtime and extending battery life.
Another key differentiator is the operational modularity that Mooving offers in its battery systems. The architecture is designed to enable seamless servicing, upgrades, or replacements without disrupting the fleet’s operations. This flexibility is especially important in the battery swapping business, where the use case involves frequent battery changes and exposure to rugged usage conditions.
Such a comprehensive lifecycle management approach is crucial to de-risking EV adoption, particularly for commercial operators who rely on performance consistency, cost predictability, and minimal downtime. Mooving’s model demonstrates how deep technological integration can address these needs while driving scale in India’s evolving electric mobility ecosystem.
How should EV OEMs approach product longevity and battery support more seriously?
It’s true that many EV OEMs today operate with a “sell-and-forget” mindset, which is no longer sustainable in a maturing market. What’s required is a shift toward a lifecycle ownership approach, where the responsibility of the OEM doesn’t end at the point of sale but extends throughout the vehicle’s operational life. This begins with designing vehicles and batteries for five to seven years of actual road usage, rather than relying solely on lab-based specifications. There is now sufficient real-world data from Indian road and environmental conditions, and OEMs must stop blindly replicating global designs. Instead, they must build EVs tailored to the specific demands of Indian users and infrastructure.
Another crucial step is embedding native IoT infrastructure within every EV to enable proactive diagnostics. Unfortunately, many OEMs, especially those catering to cost-conscious segments, either do not integrate IoT in their battery systems or fail to use the data effectively. This is a missed opportunity, as IoT can drastically improve product reliability, predictive maintenance, and customer service.
OEMs should also collaborate with platforms to provide certified battery upgrades, replacements, and resale guarantees through assured buyback programs. Additionally, battery warranties must evolve from simplistic time-bound models to performance-based structures. Most warranties in India still follow a standard “five years or 60,000 km” format, which doesn’t reflect the battery’s real-world degradation. A more meaningful warranty would include performance thresholds, such as guaranteeing that a battery retains at least 70 per cent of its original capacity over five years. If the battery’s state of health falls below this threshold due to regular use, the OEM should be obligated to repair, replace, or compensate the owner regardless of mileage or time.
Such performance-based warranties shift the focus from time to real-world usage, which aligns more closely with the user experience and significantly improves the residual value of the vehicle. These warranties also increase the confidence of both consumers and financiers, especially in a country like India, where weather, terrain, and charging behaviour vary widely.
Moreover, this approach forces OEMs to invest in better thermal management systems, advanced battery management systems (BMS) algorithms, and overall battery quality. In doing so, they not only enhance customer trust but also boost the long-term resale value of their vehicles.
Ultimately, this transition is not just about improving hardware; it’s about building trust and ensuring transparency across the entire lifecycle of the EV.
What financial or psychological impact does owning a “dead” EV asset have on early adopters?
First, it’s important to understand what is classified as a “Dead Asset in EV”.
This happens when users, especially commercial operators, end up with EVs that have no certified resale value. Additionally, the problem multiplies when these assets no longer deliver the promised range. Which leads to these vehicles being unable to get sold, refinanced, or repurposed. Hence, “dead assets.”
This problem stems from:
- An underdeveloped resale ecosystem or the secondary market
- Poor product underwriting during financing.
- No battery health tracking post-sale.
It’s impact on Early Adopters is significant and highly underreported.
Financially, early adopters of electric vehicles often encounter significant setbacks. One of the most pressing issues is the near-complete loss of resale value, which makes it difficult for users to recover even a portion of their initial investment. Additionally, there are no structured financing options available for major repairs or battery replacements, which can be prohibitively expensive. As a result, many users are forced to switch back to internal combustion engine (ICE) vehicles, and the cost of making this switch often negates any long-term savings they had hoped to achieve through EV ownership.
Psychologically, these experiences lead to widespread disillusionment. Users begin to lose trust not just in electric vehicles but in emerging technologies as a whole. This disappointment often results in negative word-of-mouth, which tends to spread faster and more widely than positive experiences. Consequently, there is a growing reluctance among early adopters to consider electric vehicles again or to recommend them to others. We recognise these challenges and are actively working on solutions to address them, with more details to be shared closer to our launch.
What are the most critical infrastructural gaps currently affecting EV scalability in India?
Several layers are still evolving, but the most critical ones today are:
Battery health infrastructure
No standardised diagnostics or certified battery condition reporting. No standardised protocols over which this data can be shared. Something like ‘Battery Passport’ which is under development in EU is needed for India.
Resale infrastructure
Lack of trusted platforms for buying/selling pre-owned EVs or batteries. To elaborate on the underdeveloped Resale Ecosystem. The major players in the Resale ecosystem today are the dealers. 90 per cent of all trades in 2W and 3W market and 70 per cent of all trades in the 4W market are led by them. Limited dealer engagement in the used EV market has stifled competition and suppressed residual values. Uncertainty around EV longevity and performance is a key barrier, especially for inexperienced dealers. Leading to the price depreciation being almost double compared to ICE market due to the fear of unknown.
Financing blind spots
Loans that ignore vehicle condition, usage patterns, or OEM reliability lead to NPAs and adoption hesitancy. As a result of this risk blindness, we are seeing the emergence of predatory loan terms. In many cases, interest rates on EV loans are reaching 28–30 per cent IRR, even from formal financial institutions. Loan-to-value (LTV) ratios are suppressed, and tenures are shortened, drastically increasing monthly EMIs. This drives away cost-conscious and credit-worthy EV buyers who might otherwise accelerate adoption at scale.
The financing sector still lacks standardized metrics for evaluating the battery health and remaining useful life (RUL) of a used EV, crucial parameters for resale, refinancing, and buyback. This has frozen the second-hand EV market, making it even harder for banks to recover their dues in case of a default.
Solving these requires coordination across policy, OEMs, FinTech, and tech platforms. That’s the direction we’re moving in.
How do you foresee India’s EV resale and refurbishment markets evolving over the next 3–5 years and any plans for expansion or recent product launches we can expect in the upcoming year?
In the next three to five years, the used electric vehicle (EV) market is poised to become one of the most significant pillars of India’s evolving EV economy. As the early phase of EV adoption reaches maturity, the focus must now shift toward battery repurposing, used EV resale value, and lifecycle extension. A major development will be the standardisation of used EV certification. Much like internal combustion engine vehicles require RTO checks and insurance verification, electric vehicles will increasingly need structured certification, particularly around battery health and residual range. This certification will be essential for building trust, ensuring pricing accuracy, and enabling financing options in the resale ecosystem.
Alongside this, the rise of diagnostic algorithms will play a critical role. These data-driven systems will assess battery health, vehicle performance, usage patterns, and remaining useful life. They will not only help in accurately pricing used EVs but also influence refinancing decisions, insurance premium calculations, and boost lender confidence in the asset quality of used EVs. Simultaneously, the secondary market for EVs is expected to mature rapidly, both in the B2B and B2C segments. Future platforms will likely enable instant vehicle valuation, digital certification, and resale or auction options with integrated financing solutions. Such liquidity and transparency, which are currently missing, will be essential to allow EV users to seamlessly exit or upgrade their vehicles and to promote mass-market adoption.
Another key trend will be the growth of refurbished battery programs. These will act as vital drivers for both affordability and sustainability. Second-life battery applications, such as for stationary storage or in low-range EVs, are expected to expand. Moreover, models like subscription-based battery leasing with verifiable performance records will emerge. This creates new opportunities for OEMs, recyclers, and fintech players to participate in building a robust circular economy that supports the long-term viability of electric mobility in India.
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