The move will be a boost for India's Reliance Industries (RELI.NS) and Britain's BP Plc that last year formed a joint venture for battery swapping in the country. Motorbike maker Hero MotoCorp (HROM.NS) and Taiwan's Gogoro have also formed a partnership for swapping.
India's Sun Mobility, which offers energy as a service, and Japan's Honda (7267.T), which last year set up a battery sharing and swapping business in India, are also expected to gain.