EV batteries can take a long time to charge, but an EV battery startup company called Ample wants to change that. The EV startup company says it’s working with five members of the automotive business (they won’t say which ones) to develop a battery that can be changed out rather than charged.
The idea is to create EV battery swap stations where EV drivers can go, park their car, and an automated system will swap out the EV battery and replace it with a fully charged battery.
The automotive startup company says the process takes about ten minutes and is “as fast, cheap, and convenient as gas.”
The Aims of the EV Battery Business
The startup company is currently aimed at the fleet vehicle business and is working with Uber to bring EV battery swapping technology to the Bay Area. In an interview with Electrek, Ample co-founder and CEO Khaled Hassounah explained the benefits the company is aiming to bring to the consumers of the technology of the startup business.
“The lifetime of your car is not limited by the lifetime of your battery. With this modularization, we’re moving from the battery being a very expensive product in the car to saying, ‘Listen, it’s just an energy delivery device.’ You buy a car not to own a battery, you buy a car to drive places. As long as we make it easy and cheap, that’s kind of the purpose,” he said.
He also said that the technology and the approach of the EV battery startup business last beyond the earliest stages of the purchase.
“So instead of the experience today when you buy a car that has a 200-300 mile range that over time goes down, with us it actually keeps going up. Because we are continuously keeping the batteries up to date, but then also adding newer chemistries into them. So as the technology evolves, everyone gets the benefit, not just the people who happened to buy a car later.”
The Market for an EV Battery Startup
The market for an EV battery startup company like Ample is large — and it’s growing fast.
The EV battery business was worth $27.3 billion in 2021 and is expected to grow to $67.2 billion by 2025. That’s a compounded annual growth rate of over 25% and a great sign for a novel startup company like Ample.
About the Author
Elijah Labby is a graduate of the National Journalism Center. He has previously written for Broadband Breakfast, a technology and internet policy website.