Global energy technology business Octopus Energy and CATL, the world’s leading battery manufacturer, have announced a new joint venture named ‘Swaptopus’ to accelerate the decarbonisation of European heavy transport.
Unveiled at Octopus Energy’s flagship Energy Tech Summit, the partnership aims to build a European network of battery-swapping hubs for electric lorries. The technology allows heavy goods vehicles to replace depleted batteries within minutes, eliminating the lengthy charging times that currently hinder the transition to electric freight.
The first UK mega hubs are scheduled to open in 2027, with plans to expand to more than 30 locations by 2035. Once fully operational, each hub will be capable of servicing thousands of lorries daily. The partners estimate the completed network could support over 300,000 electric trucks and unlock more than £30 billion in private investment, significantly reducing Europe’s reliance on imported oil by replacing it with domestic green electricity.
The venture combines CATL’s battery-swapping technology, which is already operating at scale across China, with Octopus Energy’s pan-European energy supply, flexibility, trading, and customer service expertise.
Greg Jackson, CEO and Founder of Octopus Energy Group, noted that while electric trucks already beat diesel on running costs, the main challenge remains keeping them moving. He emphasised that battery swapping resolves this issue by getting trucks back on the road in minutes.
Dr Robin Zeng, Chairman and CEO of CATL, added that the venture’s combined expertise in battery swapping, battery-to-grid (B2G) capabilities, and energy storage, paired with Octopus’s AI-powered energy trading platforms, will fast-track transport electrification across the region.
Swaptopus Chief Executive William Rowe highlighted the infrastructural benefits, stating that the stations will also act as a virtual power plant by charging and discharging batteries based on grid demand, ultimately lowering costs for consumers. As part of a broader collaboration, Octopus and CATL are also exploring ways to scale Vehicle-to-Grid (V2G) technology across CATL’s global automotive network to support peak grid demand.
