Final 2023 Chrysler 300C model rolls off production line at Brampton (Ontario) Assembly Plant
It can take 20 minutes to “fast charge” an electric car up to 80% so you can get back on the road. It would seem faster to just change your vehicles’ battery like you would in a toy car and be back on the road in just a few minutes with a fully charged battery pack.
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.