Battery swap technology is gaining traction in South Korea as an alternative to a time-consuming charging option amid a rise in electric vehicle demand.

PIT IN, a venture separated from Hyundai Motor Group last year, is set to inaugurate the country’s first battery swap station in Ansan, Gyeonggi Province, in March 2024.

There is also speculation that Hyundai Motor Group’s automotive subsidiaries may adopt battery swap technology.

Battery swapping involves detaching a depleted electric vehicle battery and replacing it with a fully charged one. While the current 350 kW rapid chargers take around 20 minutes to charge up to 80 percent from a discharged state, battery replacement takes merely about 5 minutes – a time frame comparable to refueling with fossil fuel.

Leading this trend globally are Chinese companies, with NIO establishing the first battery swapping station in China in 2018.

As of the end of 2023, NIO has expanded its station count to 2,100. In 2022, CATL, the world’s largest EV battery manufacturer, launched its battery swap platform EVOGO in Xiamen, China.

CATL has been making significant strides, establishing a joint venture for battery replacement with Didi Chuxing, a Chinese vehicle-sharing company, last month.

Advanced economics have also seen a recent surge in the development of swap systems.

U.S. startup Ample has been actively promoting a business-to-business (B2B) battery exchange service for commercial vehicles like Uber, deviating from the business-to-customer (B2C) focus of NIO.

In Korea, PIT IN has thrown its hat into the battery swap ring. While its basic model aligns with B2B exchanges like Ample, the differentiator lies in its deployment of battery exchange systems for logistics services such as taxis and delivery vehicles, beyond passenger cars.

PIT IN’s battery swap system stands out for its versatility compared to NIO and Ample. It combines automated robotic processes with manual intervention from skilled engineers during battery replacement.

This hybrid approach allows the system to be adaptable not only to Hyundai Motor Group’s vehicles but also to any mass-produced vehicles with batteries located beneath the vehicle chassis.

By Park Je-wan and Minu Kim

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