Stellantis (STLA) and battery swapping startup Ample announced a new partnership to bring swap stations to Europe in 2024. The tie-up comes as the battery exchange market set to expand, with the market at over $1 billion in 2022 per Global Market Insights. Ample Co-Founder John de Souza compares the technology to "a gas station for electric cars." By rapidly exchanging depleted packs for fully-charged ones, drivers avoid prolonged charging waits. In teaming with Stellantis, de Souza cites the automaker's wide vehicle range, global presence, and EV expertise as ideal for scale. Launching with Fiat's 500e city, he notes owners in cities often lack overnight charging access, making the growth for battery swap potential even greater. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Stellantis (STLA) joins forces with Ample to integrate Ample's Modular Battery Swapping technology into its electric vehicles.
(Bloomberg) -- Stellantis NV is eliminating a shift at a Jeep plant in Detroit and cutting jobs at its Toledo, Ohio, Jeep assembly complex, a move the company blamed on strict emissions standards adopted by California and more than a dozen other states in 2019.Most Read from BloombergCarlyle’s Rubenstein Is in Talks to Acquire Baltimore OriolesApps That Use AI to Undress Women in Photos Soaring in UseHunter Biden Indicted in Tax Case as White House Woes MountElon Musk's SpaceX Valued at $175 Bil