Imagine swapping your car's battery in just a few minutes instead of waiting hours for a recharge. That's what Ample is aiming for with its battery swapping tech, and now they've got some financial muscle from Mitsubishi. Ample has been testing this idea in San Francisco, Madrid, and Japan for three years. They're about to turn those tests into real deals in 2025. Mitsubishi is chipping in $25 million to help make that happen. Ample's not stopping at just a few bucks, though. They're aiming for a $75 million round altogether. Mitsubishi isn't just an investor, though. They own parts of businesses that could use Ample's tech, like the Japanese convenience store chain Lawson. Plus, Mitsubishi can help Ample get renewable energy for their swapping stations. Ample's first big customer is Free2Move, a carsharing service in Madrid. They've got electric Fiat 500s using Ample's tech. More big news is coming from Japan soon. Ample's been doing tests there with a big energy company, ENEOS. Lots of fleets are using their stations, even taxis and city services. Ample's keeping their eyes on Europe and Japan because of some uncertainty about EV laws in the US. But if things stay the same, they might find a way to make it work there too.

Electric Vehicle Battery Swapping Gets Boost from Mitsubishi

Actions