Electric vehicle battery startup Ample raises $140 million

By Reuters

Ample, a San Francisco-based developer of swappable electric vehicle (EV) batteries, has raised $140 million in a new funding round, the company said on Thursday. The company has developed a battery for EVs and an automated process for quickly swapping out depleted batteries for newly charged packs, according to founders Khaled Hassounah and John de Souza. Long charging times that are common at most public and commercial charging stations have dampened consumer and fleet demand for electric vehicles.

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