CATL and Octopus Energy form JV to bring battery swapping to European trucks

CATL and Octopus Energy Launch Joint Venture to Bring Battery Swap Stations to Europe

CATL, the world’s largest electric vehicle battery manufacturer, and UK energy provider Octopus Energy have formed a joint venture to build a network of battery swap stations for electric trucks across Europe, the companies announced on Monday at the Energy Tech Summit in London.evinfrastructurenews

Swaptopus Targets Freight Electrification

The joint venture, named Swaptopus, aims to open its first hubs in the UK in 2027, with more than 30 stations planned across Europe by 2035. The venture targets the heavy freight sector, allowing electric trucks to replace depleted batteries with fully charged ones in minutes rather than waiting for conventional charging. Each hub would be capable of servicing thousands of trucks per day.sina

Swaptopus aspires to support more than 300,000 electric trucks and unlock over £30 billion in private investment. Under the arrangement, CATL will provide its battery technology and swap station expertise, while Octopus Energy will handle energy supply, flexibility, trading, and customer service.evinfrastructurenews

Building on CATL’s Chinese Network

The European expansion follows CATL’s rapid buildout of battery swap infrastructure in China. The company reached over 1,000 operational Choco-Swap stations by the end of 2025 and raised its end-of-2026 target to 3,000 stations across more than 140 Chinese cities. In April 2025, CATL signed a framework agreement with state-owned oil giant Sinopec to jointly build at least 500 stations that year, with a long-term goal of 10,000.evintelligence

Europe currently has no CATL swap stations. The only battery swap operator on the continent is NIO, which runs roughly 60 stations but has struggled to expand the model profitably.eletric-vehicles

A Broader Octopus-CATL Relationship

The Swaptopus venture deepens an existing relationship between the two companies. In January 2026, CATL signed a memorandum of understanding with Octopus Energy’s investment arm, Greencoat, to develop battery energy storage projects across Europe. Octopus Energy CEO Greg Jackson has publicly praised CATL’s technology and expressed interest in expanding Chinese clean energy partnerships.reuters

The announcement comes as European regulators push to decarbonize road freight, a sector responsible for a substantial share of transport emissions but where electrification has lagged behind passenger vehicles.