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Battery swapping technology allows customers to carry on their journeys within 10 minutes. With continued innovations in battery swapping technology, the battery swapping time would only decrease. Battery swapping has become a common practice in industries where batteries are used regularly in industrial vehicles, such as electric forklifts.
It eliminates the need to wait for batteries to charge, and it also reduces the amount of time that the battery is not in use. Furthermore, battery swapping proves better for batteries as they are charged slowly in the swap stations. Compared to supercharging, which degrades batteries rapidly, battery swapping makes batteries last longer. Battery swapping technology has been challenging on the economic front. The startup cost required to install a battery-swapping station is very high.
The standardization of the battery swapping system and the success of renewable energy in the long term are powerful incentives for sticking to battery swapping technology. In short, a customer can quickly replace a depleted battery with a fully charged one from a battery swap station. With the latest battery swap stations being fully automated, the exchange process is over within a few minutes.
For a longer answer, let us go through the intricacies of battery swapping technology. Battery swapping stations have been built and proven successful in eastern markets like China and Taiwan. As a result, vehicle owners can swap their batteries for electric cars within a few minutes and in even less time for electric scooters. Battery-as-a-Service means that the ownership of batteries remains with the EV makers.
In addition, customers can also opt for a pay-per-swap model. Hence, more customers can afford an electric vehicle and thus contribute toward a sustainable future. Broadly, we can categorize the EV industry into:. With his father, he co-founded Quicksoft Ltd. Notable Accomplishments Agassi is a serial entrepreneur. In he co-founded TopTier Software with his father originally called Quicksoft Development in Israel and later moved the company's headquarters to California.
Agassi served the company in various capacities including chairman, chief technology officer, and then CEO. TopTier was a leading enterprise portal vendor but only lasted a few years. This event ended up opening doors for Agassi to pitch his plan for a green revolution in transportation. Agassi's connections afforded him access to very wealthy investors who were integral to early, large funding rounds for Better Place.
Its plan was to convert ordinary gas-powered vehicles into electric ones by retrofitting them with replaceable lithium-ion battery packs. Instead of charging these cars, there would be stations to swap out old batteries for new ones. Soon, he had inked deals to test the cars in Israel and Denmark, with other countries lining up behind. From the beginning, however, Agassi had unrealistic expectations for what the company could do in the market with the money it had. Ghosn reportedly suggested they start by building 50, vehicles, which would represent half of the Israeli car market.
Agassi inflated this number to , when he went public to discuss his plans for the company. Agassi wanted his cars to be cheaper than gas-powered alternatives, which at the time was not feasible. In subsequent funding rounds, production costs were downplayed and Agassi's narrative of transformational technology was used to justify wildly unrealistic claims.
Better Place also made several bad management decisions. For example, none of the founding employees had experience in the automobile industry. Rather than focusing on creating a concept and then building it with the help of product managers who could guarantee a reliable and affordable product, Agassi began hiring marketing employees around the world who were tasked with lobbying national governments outside of Israel for favorable tax breaks.
At the time, it seemed as though Agassi could do no wrong. However, in the summer of , Agassi's vision and optimism appeared to begin unraveling. He relocated from California to Israel without telling his colleagues beforehand, and his relationship with his wife came to an end. His new girlfriend started attending executive meetings with him, and he lost a key employee Eliza Peleg who was reportedly a necessary counterpoint to Agassi's untoward optimism.
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