How KYMCO hopes to change the game for swappable battery EVs
KYMCO, one of the world’s leading motorcycle, scooter, and ATV manufacturers, has just announced a major new expansion to the brand’s Ionex platform for swappable battery electric vehicles.
We’ve watched over the years as KYMCO has expanded its Ionex system, pushing out thousands of battery swap kiosks around its domestic market in Taiwan and producing a wide range of compatible electric scooters.
Similar to other major battery-swapping companies, Ionex has operated under a membership platform that allows riders to buy the electric scooter and then pay for battery swapping as a service instead of buying the batteries outright.
Batteries are usually the single most expensive component in an electric vehicle, so this setup helps dramatically reduce the purchase cost of EVs.
Battery swapping has been a tough sell on full-size electric cars but has been proven effective on smaller EVs like motorbikes since the batteries can be lifted and swapped by hand.
Now KYMCO is making a big announcement, showcasing its plan to impact the battery-swapping market with an expansion of its Ionex offerings. Or more accurately, it’s making three announcements – all of which we were able to see firsthand at the 2023 EICMA Milan Motorcycle Show last week.
Check out my experience of seeing KYMCO’s updates firsthand in the video below.
The first major announcement is the launch of “Ionex Battery-as-a-Service Solution” for energy companies that want to offer battery-as-a-service (BaaS) for customers.
The second is the development of a Battery Metering Unit (BMU) that will allow third-party vehicle manufacturers to manufacture EVs that are powered by the Ionex Common Battery, the main battery developed by KYMCO for its Ionex platform.
The third major announcement is the opening of the Ionex Energy Station, the swapping kiosk at the heart of the battery swap model, as a solution for third-party network operators.
Ionex Battery-as-a-Service Solution
KYMCO is opening up its system to allow energy companies to offer Battery-as-a-Service operations using the Ionex Common Battery and the Ionex Operating System.
The batteries themselves have already performed millions of swaps in the field, mostly in KYMCO’s domestic market of Taiwan, and the company says it’s now ready for energy companies to adopt the system.
Energy companies can theoretically outfit their existing locations, such as gas stations, with the ability to swap and charge batteries as well as offering vehicle charging from the same kiosk.
“The Ionex Battery-as-a-Service not only accelerates EV adoption but also re-defines the industry,” commented Ken Ma, President of MEV at Ampace, a joint venture of ATL and CATL. “The Ionex Battery-as-a-Service allows energy companies to focus on developing and supplying batteries with the best technology for all-electric motorcycle riders,” commented Vincent Wong, Senior Vice President of EVE Energy.
Ionex Battery Metering Unit for manufacturers
The newly unveiled Ionex Battery Metering Unit (BMU) is the brains of the operation that will make it easy for third-party OEMs to produce electric scooters and motorcycles that are powered by Ionex batteries.
The BMU is essentially a black box that holds all the magic inside, allowing other manufacturers to reduce their vehicle development time by relying on Ionex’s technology for powering the vehicles.
As the company explained, the BMU accurately tracks real-time battery usage and “comes with an Internet of Vehicles (IoV) control interface, allowing the vehicle to connect with the rider through the Ionex User App for abundant smart vehicle features and turning the rider’s mobile phone into the vehicle’s keyless device. It is also equipped with Over-The-Air (OTA) firmware updates and financial-grade encrypted data transmission, all the advanced digital technologies expected in the electric era.”
Ionex Energy Stations ready to roll out
The Ionex Energy Station is the company’s battery-swapping kiosk that is capable of charging and deploying batteries for swapping as well as electric vehicle charging. The system is cloud-connected and comes in various sizes, even down to mini-stations with just five battery slots.
The stations can be used with any BMU-equipped electric vehicle, opening the door to a wide range of EVs operating on the Ionex platform.
Earlier this summer we heard early details regarding KYMCO’s partnership with PTT, a massive Thai energy company, that is seeing Ionex stations rolled out in Thailand.
As Managing Director of Arun Plus, the EV ecosystem flagship of PTT, Ekachai Yimsakul explained:
“The Ionex Energy Station is a turnkey solution to build battery-swapping networks for electric motorcycle riders. It plays a crucially important role in our pursuit of becoming the leading global energy provider in the electric era.”
KYMCO of course isn’t the only battery-swapping game in town, but the company has made major strides in the last few years. With an increasing customer base and country list, Ionex is definitely a platform to keep an eye on.
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Mercedes-Benz High-Power Charging just opened more DC fast chargers at Buc-ee’s stores in the Dallas-Forth Worth area.
Three new Mercedes DC fast charging stations are at Buc-ee’s in Fort Worth, Temple, and Royse City. Mercedes asserts that every one of its chargers offers up to 400 kW of power.
It’s also adding 12 more charging stations at Buc-ee’s in the Dallas-Fort Worth, San Antonio, and Houston metro areas – also known as the Texas Triangle, home to 68% of Texans:
Buc-ee’s isn’t your typical convenience store – they’re huge, with some stores covering over 50,000 square feet, and they offer a wide variety of items, including snacks, beverages, fresh food, clothing, home decor, and Texas-themed merchandise. It’s known for its homemade fudge, jerky, and beaver nuggets (caramel-coated corn puffs). Most Buc-ee’s locations are open 24 hours a day, seven days a week.
In November 2023, Mercedes announced it had made an agreement with Buc-ee’s to build EV charging hubs at most of its existing stores. Mercedes is aiming to have around 30 online by the end of the year. There are currently 48 Buc-ee’s locations across the US South, 34 of which are in Texas.
When I spoke to Mercedes-Benz High Power Charging CEO Andrew Cornelia last year, he was passionate about the importance of placing EV chargers near amenities that travelers need.
Mercedes offers open access for all EV drivers, including roaming with other charging networks. Its charging hubs support contactless payments with credit cards or smartphone wallets.
The first Mercedes DC fast charging station came online last November at its headquarters in Sandy Springs, Georgia. Mercedes-Benz plans to deploy 2,500 high-powered chargers in 400 hubs by 2027.
Texas is the US’s No. 1 producer of clean energy and ranks fourth in public EV charging. However, to meet driver demand, the state needs around 95,000 more public chargers by 2027.
Read more: America, Mercedes-Benz wants you to indulge in retail therapy while you’re DC fast charging
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Environment
Polestar (PSNY) stock faces potential Nasdaq de-listing after failing to file its annual report
Another EV stock may be removed from the Nasdaq exchange. After failing to file its annual report, Polestar (PSNY) received a notice from the Nasdaq as the company faces a possible de-listing.
Polestar, Volvo’s former high-performance unit, was established as an EV brand in 2017 under Geely’s control.
Since launching the Polestar 2, its first all-electric vehicle, the brand has expanded into 27 markets globally. The electric car has even become a top seller in several key markets like Norway, Sweden, and Germany.
However, like many EV startups, Polestar has hit its fair share of hurdles. After cutting guidance late last year (from 80K to 60K), Polestar still missed its target, delivering 54,600 vehicles last year.
In February, Volvo announced plans to sell 62.7% of its stake in Polestar as it looks toward its next growth stage. Volvo also confirmed it will “not provide further funding to Polestar” outside of its existing $1 billion outstanding convertible loan.
The news came after Polestar announced plans to cut 15% of its global workforce amid slowing EV sales earlier this year.
Polestar stock facing potential Nasdaq de-listing
After failing to file its annual report for the fiscal year ending December 31, 2023, Polestar received a deficiency notice from the Nasdaq.
The notice states Polestar is not in compliance with its listing rules, which require the timely filing of periodic financial reports.
Polestar said the notice has no immediate impact on the company’s listing. However, under the Nasdaq listing rules, Polestar has 60 days to submit an action plan. If Nasdaq accepts it, Polestar could be issued an additional 180 days from the notice date, or until November 2024, to regain compliance.
The company has already received consent from lenders under its nearly $1 billion 3-year loan facility for the late filing. Polestar says it is fully committed to regaining compliance.
Polestar is working to file the annual report “as soon as practicable” and to report Q1 2024 earnings shortly after.
Polestar stock was down over 13% on Monday following the potential de-listing notice. PSNY shares are now down over 50% this year, hitting their lowest prices since going public.
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Launched as a joint venture between Toyota Group and Tier 1 supplier Hexagon Purus, the new Tern brand of heavy duty electric trucks announced Hino Trucks as its exclusive US distributor.
Another Toyota Group brand, Hino Trucks nevertheless brings a nationwide network of more than 200 heavy truck dealers (and their customers) to the new JV with Hexagon, which is specifically focused on electrifying “practical” commercial vehicle applications.
Glenn Ellis, President and CEO of Hino Trucks, expressed enthusiasm about the partnership. “Our collaboration with Hexagon Purus introduces a highly reliable Class 8, 4×2 tractor option into the electric truck market, catering to a wide range of applications,” he explained. “We are excited to be the exclusive distributor for Tern with an initial distribution focus in California, where fleet electrification is imperative.”
Tern RC8 electric semi
The new Tern RC8 electric truck offers a 68,000 lb. GVWR, 680 peak horsepower electric motor (494 continuous), a 200 mile range, and the ability to go from 0-80% charge in less than two hours at 240 kW. Energy comes from dual Hexagon Purus Gen3 269kWh battery packs in a 750-volt, 538 kWh configuration.
The announcement coincides with California’s Advanced Clean Fleets regulation, and was made today at the ACT Expo, which is taking place this year in the West Hall of the Las Vegas Convention Center. Serial production for the Tern RC8 is scheduled to begin later this year.
Electrek’s Take
It’s hard to act surprised that a Toyota brand is going to be supported by Toyota’s existing dealer network, but it’s worth noting that, while Toyota is marketing/lobbying against EVs on the one hand, it’s quietly investing big bucks into battery electric on the other.
My guess: as soon as Toyota has a viable BEV on the market, they’ll “suddenly” realize that BEVs were the way to go all along. #bet
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