Swappable Batteries Have Momentum
Companies are developing swappable batteries for electric vehicles that are light enough to allow drivers to swap out a depleted battery for a pre-charged one. To date, hundreds of thousands of battery swaps have been made worldwide, enabling drivers to travel millions of emission-free miles.
Battery swapping isn't new.
Battery swapping isn't new—it goes back farther than the humble household flashlight or radio. Swappable batteries for EVs however are seeing a rise in momentum as countries like India and China increasingly rely on battery technology to make EVs cheaper and more competitive than gas-powered vehicles—the U.S. is now racing to catch up.
This isn't the USA's first attempt at swappable batteries, but past attempts focused on consumer vehicles, which isn’t focused on their true value. Companies like India’s Sun Mobility and China’s NIO have made a case that battery swapping is best used in commercial vehicles with a circular route. They can easily access a swap station and continue onwards.
Swappable Batteries in Commercial EVs
Three changes are now proving the additional benefits of swappable batteries in commercial EVs:
Time: Commercial vehicles can’t wait the 1+ hour it typically takes to charge an EV. Swapping is much quicker, enabling them to continue on their way.
Upgradeability: EVs with built-in batteries become outdated as soon as new batteries are developed. Swapability allows for easy upgrades to the latest battery technology.
Cost-efficiency: Swappable batteries reduce the overall cost of buying and operating electric vehicles. Selling the battery separately from the vehicle reduces the cost by nearly 50%, making electric vehicles much more affordable and accessible.
Increasingly, Indian innovations are worth watching. India’s adoption of lightweight, swappable batteries for mass transit affords a glimpse of the future of American transportation. Battery swap technology’s potential impact on mass transit and last-mile delivery systems around the world presents an exciting opportunity for investors.
Battery swap stations are coming to a city near you very soon.