Octopus Energy and CATL have announced a new joint venture (JV) to create a network of battery-swapping hubs covering the UK and Europe.
The hubs will allow electric HGVs to replace depleted batteries in minutes, removing long charge times and eliminating one of the biggest barriers to decarbonising heavy transport.
The initial UK mega hubs are expected to open in 2027, with about 30 planned by 2035. Every hub will be capable of servicing thousands of trucks per day.
Once fully operational, the partners believe the network could support 300,000 electric trucks and unlock more than £30 billion of private investment.
This JV – called Swaptopus – combines CATL’s battery swapping-station knowledge, already deployed at scale across China, with the energy supply experience of Octopus.
The two companies are also looking at options to scale Vehicle-to-Grid (V2G) technology across CATL’s global network of automotive partners.
William Rowe, CEO and Founder of Swaptopus, said: “We believe the future of land based transport is electric and autonomous, and battery swapping is a massive part of the enabling infrastructure.
“Not only does it significantly reduce down time but since the batteries at the swapping stations can be charged and discharged when the grid needs it, they act as a virtual power plant and in turn lower costs for consumers.”
Dr. Robin Zeng, Chairman and CEO of CATL, said: “Battery swapping will be a significant part of the future of commercial transport.
“We have field-proven this technology in China, and we are delighted to bring it to the UK and Europe as part of our joint venture with Octopus.”
