What is Battery-as-a-Service?
In the Battery-as-a-Service (BaaS) model, electric vehicle (EV) owners purchase the EV without the battery, reducing the upfront cost of the EV.
The battery is then provided in the form of a subscription or lease agreement. Typically, this might take the form of a monthly subscription, whereby alongside the ability for ‘traditional charging’, the depleted battery can be swapped at specialist automated stations for a fully charged battery in a matter of minutes. The empty battery is placed into a charging port, where it is fully charged and can then be swapped into another vehicle.