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Octopus Energy and CATL, the world’s leading battery manufacturer, today announced a new joint venture (JV) to build a European network of battery-swapping hubs that allow electric lorries to replace depleted batteries in minutes.
Announced at The Energy Tech Summit, the JV (named 'Swaptopus') will open its first mega-hubs in 2027, with more than 30 planned by 2035. Once in full operation, the partners believe the network could support 300,000+ electric trucks and unlock over £30 billion of private investment.
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