2022 Is Expected to Witness the Rapid Growth of Battery Swap

SHANGHAI, Jan 19 - According to CITIC Securities, on the background of carbon peaking and carbon neutrality, the battery swap mode will without doubt become the new force to promote the popularity of new energy vehicles (NEVs), which is an effective complement to NEV charging.

It is expected that with the improvement in policy, financing as well as product innovation, 2022 is expected to mark the beginning of high-speed development of the battery swap industry, with more than 3,000 new swap stations (there was only 1,086 swap stations as of October 2021) to be added in 2022, and 10,000 by 2025.

It is expected that in the short term, the relevant operators and equipment vendors will benefit from the industry's high growth. Leading industry participants that worth attention include CATL, GCL Energy & Technology, etc.