Summary
- Mitsubishi partners with Ample in a $25 million investment for EV battery swapping
- Battery swapping is targeted at fleet owners to eliminate long charging times
- The partnership involves deploying Bosch’s cloud-based battery service with BPSE’s battery swapping platform
- Mitsubishi aims to reduce initial costs of deploying EV fleets through battery leasing
- Ample is looking to expand its EV battery swapping business, supported by Mitsubishi’s contributions.
Article
In the world of electric vehicles (EVs), the concept of battery swapping is gaining traction, despite skeptics. Automaker Mitsubishi Corporation recently announced a partnership with the US battery swapping startup Ample, investing $25 million in the venture. This move highlights Mitsubishi’s commitment to exploring the potential benefits of EV battery swapping, especially for fleet owners who require constant use of their vehicles throughout the day. The collaboration aims to reduce upfront costs for EV fleet deployment, eliminate downtime during charging, and enhance battery monitoring using AI technology. By utilizing cloud-based battery services and swapping platforms, Mitsubishi is paving the way for a more efficient and cost-effective electrification process for commercial fleets.
In 2022, Mitsubishi initiated a Battery-as-a-Service partnership with Bosch and BPSE in China, focusing on the development of a proof-of-concept trial and the deployment of a cloud-based battery monitoring system for battery swapping. The partnership aims to optimize the Total Ownership Cost (TOC) of EV fleets by leveraging advanced monitoring and optimization techniques. Despite the promising results of the initial trial in China, further on-road trials are deemed necessary to address challenges related to battery supply chain streamlining and the integration of evolving energy storage technologies. The ability to access the latest battery technology through swapping without the need to invest in replacement batteries or new vehicles is a significant advantage of this approach.
Mitsubishi’s collaboration with Ample also involves exploring opportunities for battery swapping in passenger vehicles. With a modular system capable of accommodating various vehicle types, the potential for scaling up swapping services to support a wide range of vehicles is evident. Other companies, including U Power and Stellantis, are also showing interest in EV battery swapping for passenger cars, with plans to introduce swappable battery systems in commercial and consumer applications. The introduction of battery swapping technology in different markets could provide consumers with more flexibility and affordability in adopting electric vehicles.
In addition to its focus on passenger vehicles, Mitsubishi is investing in expanding Ample’s EV battery swapping business to support broader applications in mobility, renewable energy, energy storage, and battery reuse and recycling. This partnership not only involves financial investments but also seeks to facilitate a close collaboration between the two companies to enhance the technological capabilities and scalability of EV battery swapping solutions. The incorporation of renewable energy into the swapping infrastructure positions battery swapping as a viable large-scale energy storage solution that can support utility demand-response programs with a focus on clean energy.
The affordability factor is a key consideration in promoting the adoption of EV battery swapping technology. Mitsubishi’s introduction of an EV battery swapping lease plan, through a financial service arm, provides a comprehensive solution that includes maintenance, insurance, and operational expertise for truck leasing. This leasing model aims to lower the barriers to entry for EV fleet operators and alleviate concerns about high upfront costs associated with electric vehicle deployment. By offering a seamless and cost-effective alternative to traditional charging stations, EV battery swapping services have the potential to accelerate the transition to electrified transportation across various sectors.
Looking ahead, the collaboration between Mitsubishi and Ample, supported by the recent $25 million investment, signifies a significant step towards expanding the use of EV battery swapping technology on a wider scale. The alignment of their expertise in mobility, renewable energy, and battery technology sets the stage for innovative solutions that can address the evolving needs of the electric vehicle market. As the industry continues to evolve, the adoption of battery swapping for commercial and passenger vehicles could play a crucial role in driving sustainable transportation solutions and reducing greenhouse gas emissions associated with traditional fossil fuel vehicles.
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