Race Energy

Sector: Renewable Energy (Battery Swapping Station (EV) Business Plan &)  |  HQ: India  |  Founded: Not separately disclosed  |  Employees: Not separately disclosed

Listed as: Privately held  | 

Company overview

Race Energy operates in the renewable energy segment of the Indian market, with a presence noted in the battery swapping station (ev) business plan & category. The company is among the recognised participants in this segment alongside other Indian and multinational players. Operations follow the standard Companies Act 2013 disclosure framework where Race Energy is incorporated as a private or public limited company under Indian law, with statutory audit, GST registration under the CGST Act 2017, and applicable sectoral compliance under FSSAI, BIS, MoEF, or sectoral regulators as relevant to the activity. The competitive set in battery swapping station (ev) business plan & includes pan-India brands, regional players, and multinational subsidiaries operating in India through wholly-owned or joint-venture structures.

Recent developments

May 2024

RACE Energy has pursued two significant strategic directions in late 2023. The company partnered with Lohum to address EV battery waste, developing second-life applications for retired batteries [2][3]. Simultaneously, RACE Energy expanded into Sri Lanka through a partnership with Lanka E-Mobility Solutions, deploying its battery-swapping technology for electric three-wheelers in the market [5][6].

On the operational front, RACE Energy inaugurated a 10,000 square-foot battery production facility in Hyderabad [8] and is now swapping over 30,000 batteries per month at its Hyderabad operations [9], indicating meaningful scale-up of its core swapping business. The company has also gained recognition, including coverage by Forbes [1].

Sources (7)

1. RACE Energy - Forbes · Forbes · Wed, 15 May 2024
2. Race Energy, Lohum join hands to tackle EV battery waste, identify second life use applications - The Times of India · The Times of India · Tue, 17 Oct 2023
3. RACE Energy partners with Lohum to tackle EV battery waste - etn.news · etn.news · Wed, 18 Oct 2023
4. RACE Energy enters Sri Lanka with its battery swap tech for electric three-wheelers - financialexpress.com · financialexpress.com · Thu, 14 Dec 2023
5. RACE Energy enters Sri Lanka in partnership with Lanka E-Mobility Solutions - Autocar Professional · Autocar Professional · Fri, 15 Dec 2023
6. Race Energy inaugurated 10,000 sqft battery production facility in Hyderabad - The Hans India · The Hans India · Wed, 28 Jun 2023
7. RACE Energy swaps over 30,000 batteries a month in Hyderabad - GaadiKey · GaadiKey · Thu, 11 Jan 2024

Financial performance and recent trajectory

Disclosed revenue (FY25): Not separately disclosed in segment-wise FY 2024-25 reporting.

Competitive position

Race Energy occupies a position in the battery swapping station (ev) business plan & category alongside other listed and unlisted Indian players. Competitive intensity in the segment is shaped by raw material cost cycles, distribution depth, branded versus unbranded share, and the regulatory framework governing manufacturing, FSSAI labelling (for food), BIS standards (for engineering goods), or sectoral norms. The principal competitive moats in this category are typically scale, distribution reach, brand trust, and integrated procurement. KAMRIT's project report on battery swapping station (ev) business plan & benchmarks new entrant economics against the listed peer cost structure including capex per tonne (or per unit of output), working capital intensity, gross margin band, and the EBITDA delta between organised and unorganised participants.

Key risks

Input cost volatility in the battery swapping station (ev) business plan & value chain Competitive intensity from larger Indian groups and multinational subsidiaries Regulatory tightening under FSSAI, BIS, environmental norms, or labour codes

Outlook

Race Energy is a participant in the Indian battery swapping station (ev) business plan & category, which forms part of the broader Renewable Energy space. The Indian battery swapping station (ev) business plan & market continues to evolve with rising organised share, premiumisation, distribution expansion, and a regulatory architecture covering the Companies Act 2013, the Income Tax Act 1961, the CGST Act 2017, the Legal Metrology Act 2009, and sectoral statutes including the Food Safety and Standards Act 2006 (for food and beverage subsegments), the Drugs and Cosmetics Act 1940 (for pharmaceutical or healthcare adjacencies), the Environment Protection Act 1986 (for emissions and effluents), and labour codes consolidated under the four 2020 labour codes. In KAMRIT's project report framework for this category, the competitive set typically includes pan-India branded leaders, multinational subsidiaries, mid-sized regional players, and a long tail of MSME participants. The structural attractiveness of the category for new entrants is a function of (a) market growth rate, (b) the share that remains with unorganised or fragmented operators, (c) the cost of regulatory compliance, and (d) the capex intensity of plant and machinery. The KAMRIT bankable DPR for this category structures a new entrant's economics against this competitive landscape. For Race Energy specifically, public-domain disclosures provide a baseline view of operations, but segment-wise revenue, EBITDA, capacity utilisation, and forward capex plans are not separately broken out in many cases. Where the company is part of a listed group, the SEBI LODR and the Companies Act 2013 governance framework apply, with statutory audit conducted under SA 700 and CARO 2020 reporting. Where the company is unlisted, the Companies Act 2013 framework continues to govern with reduced public disclosure. The risk and opportunity outlook for Race Energy mirrors the broader battery swapping station (ev) business plan & category dynamics. Demand-side drivers include rising household consumption, urbanisation, organised retail expansion, and policy support including PLI schemes (where applicable to the segment). Supply-side risks include input cost volatility, regulatory tightening, environmental compliance escalation, and competitive intensity from larger groups or imports. Management quality, balance sheet strength, distribution depth, and the capex execution track record are the differentiators within the peer set. KAMRIT's research desk maintains a baseline reference for Race Energy as a peer benchmark within the battery swapping station (ev) business plan & category. For investors, lenders, or new entrant promoters seeking a fuller assessment of Race Energy, KAMRIT's deep-dive company profile engagement covers financial trajectory, capacity and capex, distribution and customer concentration, regulatory exposure, and the competitive position with named peers.

KAMRIT point of view

Building or competing with Race?

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Related KAMRIT project reports

These reports use Race Energy in benchmarking and competitive analysis sections.

Disclaimer: This profile is compiled by KAMRIT Financial Services LLP for educational and benchmarking purposes only. It is not investment advice, a recommendation to buy or sell securities, or a solicitation. Stock data is provided by Yahoo Finance and may be delayed by up to 20 minutes. Company financial commentary draws on publicly available filings, exchange disclosures, and KAMRIT industry research. Readers should consult a SEBI-registered investment adviser before making investment decisions. KAMRIT is a financial services and compliance firm, not a SEBI-registered investment adviser.