CATL, U.K. to Launch Battery-Swapping Hubs for Trucks

Octopus Energy Group Ltd. and Chinese battery manufacturer Contemporary Amperex Technology Co. (CATL) have announced a joint venture to build a European network of battery-swapping hubs for trucks, with the first locations set to launch in the U.K. next year. The network aims to address the slow electrification of heavy trucks by enabling minute-long battery swaps, with a goal of exceeding 30 sites by 2035. Each location is expected to service thousands of trucks a day, using CATL’s existing technology developed across 1,600 stations in China. The joint venture was announced on stage at the company’s Energy Tech Summit in London by Octopus Energy CEO Greg Jackson, who stated that electric trucks already beat diesel on running costs, but the challenge is keeping them moving. The battery-electric heavy truck sector has grown more slowly than the market for electric passenger cars, with electric trucks making up about 4% of new vehicles across the European Union and about 1% in the U.K. China is the world leader in deploying electric trucks, with about 20% of new trucks sold carrying a plug. The network will help to address European emissions standards for heavy-duty vehicles, which require manufacturers to reduce emissions from their fleets by 43% from 2030.