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US-based Ample has secured an investment of $25m from Mitsubishi to support the expansion of its battery swapping technology for electric vehicles (EVs).
This collaboration aims to enhance Ample's battery-swapping business, leveraging Mitsubishi's expertise in mobility, renewable energy, and battery recycling to accelerate sustainable energy solutions.
Ample CEO Khaled Hassounah said: "We are thrilled to have Mitsubishi Corporation join us on our mission to make electric vehicle adoption more accessible and sustainable.
"Their investment and industry knowledge will be invaluable as we continue to scale our battery-swapping infrastructure and advance our technology."
Ample noted that it has made progress in expanding its battery-swapping infrastructure since its last funding round.
It has initiated operations in Japan, forming partnerships to accelerate the deployment of swapping services.
Ample has also partnered with OEMs such as Stellantis and Mitsubishi Fuso Truck and Bus Corporation, part of Daimler Truck, to integrate its technology with various EV models.
This month, Mitsubishi Electric Mobility and AISIN formed a business partnership to develop products for next generation xEVs, moving away from their previous plan to create a joint venture.
The shift reflects the evolving demands of vehicle electrification and a strategic reallocation of corporate resources.
Also, this month, Nissan and Mitsubishi launched a joint venture (JV) to provide Level 4 autonomous EV services by the end of fiscal 2024.
The JV will offer passenger transport using self-driving electric vehicles, with verification tests starting in 2025. Both companies equally fund the venture.
"Ample attracts $25m from Mitsubishi for battery swap tech" was originally created and published by Just Auto, a GlobalData owned brand.
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