While electric vehicle (EV) sales are rising fast, research shows that many people want faster charging, improved range and lower costs before they will consider switching their vehicle.
Here are some of the ways the industry is innovating to address such concerns:
Battery swapping
Not everyone will have access to an EV charging point at their home. Making EV ownership more convenient for more people is a focus of many recent innovations, including battery swapping.
Battery swapping services, which allow users to quickly swap depleted batteries with charged ones, often on a subscription basis, present a host of potential benefits. First, there is convenience, with companies in the space claiming swaps that take as little as five minutes could rival the time it takes to stop and fill a car with petrol.
Alongside, customers could buy just the vehicle body and lease a battery pack, reducing the upfront cost of buying an EV. Battery swapping also allows batteries to be charged more slowly, which could extend their lifespan. And there are potential benefits to the grid, too – as battery swapping stations can reduce energy demand by charging during off-peak times.
The concept of battery swapping isn’t new, but until recently it has failed to really hit the road. Today, companies such as China-based Nio, which owns thousands of battery-swapping stations globally, are changing that narrative by making the experience as quick and simple as possible for the customer.