The work performed (covered by the report) included performing technical, operational, organizational, market, commercial and financial feasibility, resulting in a business plan development and formulation.
The technical feasibility study has been successful and the Powerswap company is preparing for the next part of the launch. The Phase 1 objectives to list necessary activities and to create solutions to technical constrains have been performed with promising results. No remaining technical problems have been identified which can hinder us to build system demonstrators and pilot units for use in real operational environment.
The technical work has been split into four main modules aiming at the Phase 2 project: (1) the battery cassette for adaptation of the car; (2) the prismatic battery itself; (3) the battery swap unit or robot; (4) the automatic battery storage including charging facilities.
Among the main results achieved so far is the first adopted Renault Zoe completed with two battery prototypes. The economics for battery swap functions have been thoroughly studied together with all relevant parameters in a comprehensive calculation model. Cost for swapping is calculated to about 14 cents per 10 km driving. Number of extra batteries in the circulation is less than 2,5% of all batteries in the loop.
The demonstrators will be installed in Hammarby Sjöstad in Stockholm as well as in Berlin together with the Infra Neu Organization. A demonstrator will be exposed at an international car show.
Although the plan for Powerswap is aiming for the entire growing EV market, the feasibility study has resulted in a focused plan to start the introduction with the segment of the market which is in most need for an improved charging method, the commercial fleets. Taxi fleets, courier services, transport fleets, police cars, ambulances, car rental pools and community fleets – all do need to operate 24/7 and they can not use EVs with time consuming cord charging. The pilot project is planned for the biggest taxi companies in Stockholm and other fleet owners will be invited in the following expanded pilot stage.
The organizational feasibility has resulted in a project plan for Phase 2 including the identification of missing competences (the team of employees and external consultants). The business plan has been created which includes partners in Europe, US and in China.
Business projections are showing a very good profitability for the company itself, for the intended business partners and equipment vendors. The funding requirements for Phase 2 project have been calculated at the level of EUR 3M, which will comprise demonstrators, pilot units, adopted cars, establishment of sales structure as well as dissemination and communication activities.
To maximize impact, we conducted communication and dissemination activities to ensure that the knowledge of the project is spread to the key stakeholders on the market. We improved our promotional video, discussed further details regarding the cooperation with potential partners. One of them was Nevs (former SAAB). The results of exploitation and dissemination shown, that there is a huge interest on the market with respect to Powerswap (end-users, partners, Key Opinion Leaders) and that we definitely should continue with the project.