Companies in the automotive sector and elsewhere are showing an increasing interest in battery as a service (BaaS) and battery swapping, new data shows.
Analysis of GlobalData’s Company Filings Analytics Database reveals a spike in mentions of BaaS and battery swapping within filings. The trend suggests that companies are assessing the potential of and exploring possibilities within the charging infrastructure sub-sectors.
Go deeper with GlobalData
BaaS and battery swapping are seen as approaches to electric vehicle (EV) ownership that can help to reduce costs and offer convenience, as well as address some other challenges.
The BaaS model sees EV batteries provided via a subscription service, allowing owners to swap depleted batteries for fully changes ones – and indeed different models/capacities of compatible battery – at hubs. Battery swapping more broadly can allow for batteries owned with EVs to be switched in a similar way when depleted.
The benefits of both include a quicker turnaround of getting a car back up to full power than charging a battery currently can – and, indeed, bringing that timescale more in line with that of refuelling internal-combustion-engine vehicles. Such approaches can help to allay some of the reservations that consumers may have in adopting EVs. Nonetheless, interest remains emergent, and infrastructure will require significant expansion to allay reservations for many.
Misa Singh, business fundamentals analyst at GlobalData, commented: “Interestingly, not only core vehicle manufacturers but companies from industries other than automobiles are also showcasing interest and discussing these innovative approaches. Companies are interested in these markets to improve operational efficiencies, expand the standard battery-swapping network, and provide convenient options to customers.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataAmong the companies GlobalData has noted as mentioning BaaS and battery swapping in filings are Gogoro, Nio, Geely and Stellantis.
