Swatch to begin manufacturing batteries for Electric Vehicles
Posted by Zaran Tarapore on Jan 4, 2017
Watch companies and auto companies have for long worked alongside one another, yet none have taken as bold a step as Swiss watchmaker, Swatch. Following its partnership with Mercedes-Benz to incubate the Smart brand, Swatch is considering building batteries for Electric Vehicles to challenge the likes of Tesla.
You might also be interested in: Electric car charging stations across Dubai
Led by Belenos Clean Power, a company that is 51 percent owned by Swatch, the batteries are to be made from vanadium – an element that is far less harmful than the rare-earth materials used in lithium-ion batteries. In addition to being better for the environment, vanadium is believed to dramatically reduce charge times and weight alike.
CEO of the Swatch Group, Nick Hayek is quoted as saying, “the battery pack could charge twice as fast and weigh a third less than the Panasonic batteries currently used by Tesla”. If sales expectations are anything to go by, Hayek estimates that by 2020 Swatch could be selling anywhere between $10 – 15 billion worth of batteries.
You might also be interested in: Porsche Centre Abu Dhabi installs electric vehicle charging stations
Since Swatch has signed a Memorandum of Understanding with Chinese auto company Geely, it is likely that China will serve as a test bed for the technology before it is rolled out across the globe.
Editor's Pick:
Mercedes-Benz to rival Tesla with electric sports car
Hyundai to introduce electric vehicle line-up by 2020
Also See:
The Lamborghini Aventador S is the supercar you have been waiting for