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Ample, a San Francisco-based electric vehicle battery swapping startup, announced today that it has raised $25 million in funding from Mitsubishi Corporation. Such funds will enable Ample to step up its growth and further developments as the company accelerates a full-scale expansion effort. Concretely, the new funds will help the company exploit the strategic shift in deploying battery swapping solutions for commercial fleets, ride-sharing services, and last-mile delivery companies. This brings the company one step closer to revolutionizing electric mobility.
Ample has developed a modular battery swapping system through which electric vehicles can gain a full charge in as little as a few minutes. This innovation solves one of the biggest technical hurdles for expansion in the adoption of electric vehicles—charging time—by offering fast, convenient, and affordable alternatives to traditional charging methods. The latest investment follows successful partnerships with major original equipment manufacturers (OEMs) including Stellantis and logistics fleets, including Yamato Japan’s leading delivery service. Ample has also recently introduced its first battery swapping stations in Japan, marking a significant milestone in its international expansion.
The company’s overarching mission is to accelerate the transition to electric vehicles by creating an energy delivery system that is as quick, convenient, and affordable as gasoline refueling. In doing so, Ample seeks to eliminate the barriers that currently prevent more consumers and businesses from switching to electric mobility. Furthermore, Ample is committed to providing a solution that enables EVs to operate entirely on renewable energy, supporting broader environmental goals.
The team at Ample combines technologists, designers, and environmentalists who share a belief that one of the most pressing issues confronting us today is to address the challenge of sustainable transportation. The company brags about its interdisciplinary approach drawn from a very vast pool of expertise to innovate and develop viable solutions. The team is also culturally diverse, for its members come from 24 countries, while 14 languages are spoken; this brings people together in a lively atmosphere.
Core to Ample’s culture is the attitude that the most creative and impactful ideas are produced by diversity of perspectives. The company is committed to creating a work environment where every employee – no matter the race, religion, sex, or age – can contribute to the vision of the firm. As it continues its growth, it’s looking to other like-minded individuals to join the team in order to shift the way people and goods move toward a cleaner, more sustainable future.
Funding by Mitsubishi Corporation is considered a significant move in Ample’s efforts toward scaling up its technology and operations. Through the development of battery swapping infrastructure, Ample seeks to offer a rapid, reliable, and low-cost source of energy to support the common experience of EV operators facing high pressure in terms of time, such as those involving ride-sharing services and more broadly service delivery. Modular swapping technology is developed by the company to be flexible enough to service most electric vehicles coming through with minimal downtime.
In addition to serving commercial customers, Ample’s focus on last-mile delivery services is particularly timely, as demand for environmentally friendly solutions in logistics continues to grow. By enabling fleet operators to swap batteries quickly, Ample is helping businesses reduce downtime and ensure their vehicles remain operational throughout the day. This could prove particularly valuable for industries where long-distance travel and frequent vehicle use are the norm.
The partnerships also with major fleets and OEMs such as Stellantis are a testament to Ample’s growing influence in the EV ecosystem. Such collaborations, however, are crucial for scaling the technology and achieving reach into the global market. To this end, part of the growth strategy for Ample involves more swapping stations in strategic markets like Europe and Asia, where demand for EV infrastructure is rising. By focusing on regions where EV adoption is accelerating, Ample hopes to become a key player in the global push for cleaner, greener transportation solutions.
While the company does have made good progress in terms of its technology and business partnerships, Ample’s longer-term perspective transcends the momentary needs of the EV industry. With its vision of encouraging the widespread use of renewable energy and enabling the transition to electric mobility, Ample is contributing to shaping the future of transport and giving a positive push to worldwide sustainability efforts.
As Ample continues to expand its presence and capabilities, the company remains committed to overcoming the obstacles that have limited the adoption of electric vehicles in the past. With fast battery swapping, cost-effectiveness, and a focus on renewable energy, Ample is unique in the increasing market of EVs. With the support of Mitsubishi Corporation and its growing number of business partners, Ample is set to take a significant place in the new wave of change within the transportation industry.
