Energy technology firm Octopus Energy and battery manufacturer CATL have announced a joint venture (JV) on electric road freight.
The partnership aims to build a European network of battery-swapping hubs for electric lorries to replace depleted batteries in minutes, eliminating charge times.
Hubs are expected top open in 2027 with more than 30 planned by 2035. Each facility will be able to service thousands of lorries a day.
Once in full operation, the partners believe the network could support 300,000 electric trucks, delivering £30 billion of private investment.
The JV, which will be called ‘Swaptopus’, combines CATL’s battery technology and swapping-station knowledge, already deployed at scale across China, with Octopus pan‑European energy supply, flexibility, trading and customer service expertise.
In addition, the two companies are exploring options to scale Vehicle-to-Grid (V2G) technology across CATL’s global network of automotive partners.
It comes ahead of Octopus Fleet speaking at the Transport + Energy‘s Fleet Electrification Forum on 8 July at Warwick Conferences.
Greg Jackson, CEO and Founder of Octopus Energy Group, said:
“Electric trucks already beat diesel on running costs, the challenge is keeping them moving. Battery swapping changes that. Instead of waiting for hours, trucks can be back on the road in minutes.
“By combining Octopus’s software and energy expertise with CATL’s world-class battery technology, we’re making clean freight practical at scale across Europe.”
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.
“Together, our expertise in battery swapping, B2G and energy storage, paired with Octopus’s AI-powered energy trading and management technologies, will speed up the electrification of road transport across the region.”
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.”
Image courtesy of Octopus/CATL
