Electrification of public transportation and commercial vehicles have high greenhouse gas mitigation potential and high vehicle utilization per dollar of investment. Moreover, large scale deployment of electric vehicles is key in meeting decarbonization targets of the Paris Agreement. But high upfront costs, lack of long-term financing, perceived technology risk, and lack of supporting charging infrastructure are barriers to their mass adoption.
The Battery Sharing concept of libattion aims to lower the upfront cost of the commercial electric vehicles by developing smart batteries made from used electric vehicle batteries and providing them to OEMs and fleet operators on a subscription basis, charging users per energy consumed. Libattion along with its partners, plans to roll out this network of Fast Swapping Stations in a phased manner across various major cities, thus enabling customers to adopt electric mobility using an innovative Pay-Per-Use model that reduces not only their initial cost of purchase but also overall operating cost.
We take care of the entire battery life cycle and correct usability to ensure a smooth energy transition.