Top Battery Swapping Companies

The battery swapping market is estimated to be USD 1.46 Billion in 2025 and is projected to reach USD 22.72 Billion by 2035, at a CAGR of 31.5% from 2025 to 2035. The rapid increase in electric scooters, motorcycles, and rickshaws especially in Asia Pacific region, is fueling demand for battery swapping, as these vehicles benefit most from quick battery replacement.

The battery swapping market is gaining traction as a solution to address long charging times and high upfront battery costs in electric vehicles, especially for two-wheelers, three-wheelers, and commercial fleets. Key opportunity factors driving this market include government incentives and policies promoting battery-as-a-service (BaaS) models, rising urbanization increasing demand for efficient mobility solutions, and advancements in standardization that enhance interoperability between different OEMs. Additionally, the growing adoption of electric mobility in emerging markets, such as India and Southeast Asia, where cost-sensitive consumers prefer lower upfront costs, is creating significant growth potential. Strategic partnerships between automakers, battery manufacturers, and swapping network providers are also expanding infrastructure, making battery swapping a more viable alternative to conventional charging. For instance, in June 2024, ElectroRide, an Indian multi-brand two- and three-wheeler electric vehicle retail chain, has partnered with Battery Smart, India’s largest battery-swapping network for light electric vehicles. The two companies aim to set up battery-swapping stations across 2,500 locations across India in the next five years.

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The battery swapping market is dominated by major players such as, Nio (China), Gogoro (Taiwan), Ample (US), Sun Mobility (India), Contemporary Amperex Technology Co., Limited. (China). These companies offer extensive solutions for the battery swapping. These companies are vital in their domestic regions and explore geographic diversification alternatives to grow their businesses.

NIO's key strategy for battery swapping revolves around expanding its Battery as a Service (BaaS) model, deploying a vast network of automated swap stations, and enhancing battery technology compatibility. The company is rapidly increasing the number of its Power Swap Stations (PSS) across China and key international markets, aiming for over 10,000 swaps per day at each site. By separating battery ownership from the vehicle, NIO lowers the upfront cost of EVs, making them more accessible while enabling users to upgrade to newer battery packs. The company also focuses on strategic partnerships with energy providers, grid operators, and governments to integrate battery swapping into the broader energy ecosystem. For instance, in May 2024, NIO and Guangzhou Automobile Group Co., Ltd. signed a strategic cooperation agreement on charging and swapping in Guangzhou, Guangdong Province. The two will engage in comprehensive and in-depth strategic cooperation in areas related to charging and swapping, including battery standards, vehicle R&D and customization, battery asset management and operations, swapping network development and operations. Additionally, NIO is advancing next-generation swap stations with higher automation and AI-powered scheduling to improve efficiency and user experience.

Gogoro's strategy centers on revolutionizing urban mobility through its AI-powered, cloud-connected 360° ecosystem, which includes smart vehicles, battery-swapping infrastructure, and data-driven services to leverage AI, IoT, and cloud connectivity to optimize the performance, efficiency, and user experience of its ecosystem. Further, By establishing strategic partnerships with industry leaders like Hero MotoCorp in India and Foxconn globally, Gogoro aims to accelerate the adoption of sustainable transportation solutions. The company focuses on deploying its battery-swapping network, the Gogoro Network, to provide efficient energy solutions for electric two-wheelers, thereby facilitating a shift towards smart, sustainable urban lifestyles.

Ample's strategies in battery swapping focuses on modular, fully automated, and rapid battery exchange technology tailored for electric vehicles. The company designs standardized battery modules compatible with various EV models, enabling quick swaps in under 10 minutes at its robotic swapping stations. Ample's approach emphasizes flexibility by partnering with automakers to integrate its battery system without major vehicle modifications. For instance, in December 2023, Stellantis and Ample Establish Partnership to Leverage Ample’s Modular Battery Swapping Technology for Use in Stellantis Electric Vehicles. The company also adopts a pay-per-use and subscription-based business model, making EV ownership more cost-effective. Additionally, Ample leverages AI and data analytics to optimize battery deployment and station placement, ensuring efficient operations and scalability for fleet operators and ride-hailing services.

CATL's in battery swapping focus on expanding its EVOGO battery swapping service, which offers modular, standardized battery packs to enhance compatibility across different vehicle models. The company aims to establish a widespread network of swapping stations, reducing charging downtime and increasing convenience for users. By collaborating with automakers and fleet operators, CATL seeks to accelerate adoption while ensuring cost-effectiveness. Additionally, the company integrates advanced battery technology, such as long-life and high-energy-density LFP cells, to optimize performance and longevity. CATL also emphasizes sustainability by enabling second-life applications and efficient recycling of swapped batteries.

SUN Mobility focuses on advancing battery swapping infrastructure for electric vehicles, particularly in the two-wheeler, three-wheeler, and small four-wheeler commercial segments. Its key strategies include expanding its interoperable battery-swapping network, forming partnerships with OEMs and fleet operators, and leveraging modular and AI-driven energy management solutions. The company prioritizes cost-effective, scalable solutions to accelerate EV adoption, reduce range anxiety, and promote sustainability by decoupling vehicle and battery ownership. Additionally, SUN Mobility collaborates with governments and urban mobility stakeholders to integrate its network into public and private transportation ecosystems.

Related Reports:

Battery Swapping Market by Vehicle Type (2-wheeler, 3-wheeler, Passenger car, Commercial Vehicles), Operation (Manual, Operated), Service Type (Subscription, Pay-per-use), Application (Passenger, Commercial), & Region - Global Forecast to 2035

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