Bookmark and Share

$NETE California Startup Wants to Charge EVs as Quickly as Filling a Gas Tank

With several countries across the world looking to achieve carbon neutrality over the next couple of decades, there has been a major push towards adopting zero-emission vehicles. While conventional vehicles are powered by an internal combustion engine (“ICE”) that emits plenty of carbon at the tailpipe, electric vehicles (“EVs”) run on rechargeable lithium-ion battery packs and produce zero emissions at the tailpipe. However, one area where EVs still haven’t caught up to ICE vehicles is ultra-fast charging, with charging an EV typically taking anywhere from 45 minutes to 12 hours.

In a world where refueling a gas-powered vehicle takes just a couple of minutes, the lack of superfast charging for electric vehicles is sure to hold back EV adoption. In fact, plenty of drivers have mentioned charging concerns as one of the reasons they haven’t made the switch to electric vehicles. But, if a startup based in California is successful, drivers will definitely be more comfortable with the prospect of owning an EV.

Ample, a startup based in San Francisco, has unveiled an EV charging network that uses battery swapping technology and can fully recharge an EV in not more than 10 minutes. Founded by Khaled Hassounah and John de Souza, Ample’s battery swapping initiative started via a collaboration with ride-hailing giant Uber. With more than $70 million in funding from private investors, the charging network currently caters to Uber’s fleet within the San Francisco area and Ample expects to roll the network out to the mass market in a couple of years.

The only two stations in full use are currently in San Francisco, recharging Uber’s fleet, but Ample is working on installing more stations in major cities across California. Range anxiety is a major factor against widespread EV adoption, and Ample hopes to allay drivers’ charging fears by making EV charging stations as widely available and as fast as traditional gas stations.

Although Ample isn’t the first firm to use battery-swapping technology (Chinese EV maker NIO has had great success with the model in China), it is the first to introduce a modular battery-swapping system. According to co-founder and CEO Hassounah, this system is similar to LEGO blocks. The size of the EV will determine how many battery modules it requires, and since the modules are designed to be adaptable for different vehicles, most EV models can be charged via this battery swapping system.

By swapping a depleted battery with a fully charged one, Ample can cut charging time down to only a few minutes. And you don’t even have to exit your vehicle as the entire system runs on online apps and automation. President of Ample John de Souza says the company’s goal is to make zero-emission electric vehicles accessible to as many people as possible.

Speaking of making zero-emissions automobiles accessible, global payments giant Net Element (NASDAQ: NETE) seems to be on a mission to do just that if its announcement of a reverse merger with South California electric car maker Mullen Technologies Inc. is anything to go by.

NOTE TO INVESTORS: The latest news and updates relating to Net Element (NASDAQ: NETE) are available in the company’s newsroom at http://ibn.fm/NETE

About Green Car Stocks

Green Car Stocks (GCS) is a specialized communications platform with a focus on electric vehicles (EV), as well as other emerging market opportunities in the green sector. The company provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, GCS is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, GCS brings its clients unparalleled visibility, recognition and brand awareness. GCS is where news, content and information converge.

To receive SMS text alerts from Green Car Stocks, text “Green” to 21000 (U.S. Mobile Phones Only)

For more information, please visit https://www.GreenCarStocks.com

Please see full terms of use and disclaimers on the Green Car Stocks website applicable to all content provided by GCS, wherever published or re-published: https://www.GreenCarStocks.com/Disclaimer

Green Car Stocks
San Francisco, California
www.GreenCarStocks.com
415.949.5050 Office
Editor@GreenCarStocks.com

Green Car Stocks is part of the InvestorBrandNetwork.

Thursday, March 18th, 2021 Uncategorized