Battery-swapping is seen as one of the solutions to EV mileage limitations and Selex Motors of Vietnam has come up with a network of ‘battery ATMs’ which facilitate the swapping of batteries for electric motorbikes.

Vietnam has over one million electric motorbikes and 70% of them have batteries compatible with the Selex swapping system.

 

Schneider Electric, ADB (Asian Development Bank) Ventures,  and Touchstone Partners have backed Selex with $5.5 million to set up a network of automated lockers which allow users to  exchange depleted batteries for fully charged ones.

Mobile phones are used to locate the battery ATMs – which look like large fridges – and open them.

 

Selex is looking for break-even in three years and expansion into the Indonesian and Thai markets in  two years.