Stellantis N.V. STLA has signed a binding agreement with technology company Ample to establish a partnership in electric vehicle (EV) battery charging technology.
The partners will work towards integrating Ample's Modular Battery Swapping solution in Stellantis electric vehicles.
Battery swapping technology allows an EV customer to swap a depleted EV battery for a fully charged battery in a matter of minutes.
The initial program is planned to begin in Madrid, Spain, in 2024 using a fleet of 100 Fiat 500e's within Stellantis' Free2move car sharing service.
The parties are also planning to expand the application to meet fleet and consumer demand across other Stellantis platforms and geographies.
"In addition to other projects we are focused on, Ample's Modular Battery Swapping solution has the opportunity to offer our customers greater energy efficiency, outstanding performance and lower range anxiety," said Stellantis Senior Vice President, Charging & Energy Business Unit, Ricardo Stamatti.
Ample batteries are designed to be a drop-in replacement for an electric vehicle's original battery, and its light-weight battery swapping stations can be deployed in public areas in as little as three days.
As part of the Dare Forward 2030 strategic plan, Stellantis aims for a 100% passenger car battery electric vehicle (BEV) sales mix in Europe and 50% passenger car and light-duty truck BEV sales mix in the U.S. by 2030.
Price Action: STLA shares are trading higher by 0.3% at $22.57 on the last check Thursday.
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