Cassetex Battery Swapping Network

Cassetex is a battery-as-a-service company founded in 2020 with its address in Dhaka, Bangladesh. It runs lithium-ion battery swapping networks for electric three-wheelers, two-wheelers and agricultural equipment, aiming to replace lead-acid batteries and cut charging downtime for drivers and small fleets.

Riders check battery status in an app, find the nearest station, return the used battery, pay through mobile financial services and take a charged one. Stations are operated by micro energy entrepreneurs and can use solar recharging, with data-driven energy management. The company states it raised 1.6 million US dollars and plans expansion into Nepal and East Africa.

• Battery swapping: Four-step swap for e-3W, e-2W and agri-equipment.
• Mobile app: Battery status check and nearest station finder.
• Mobile payments: Payment through mobile financial services.
• Micro entrepreneur network: Stations run by local energy entrepreneurs.
• Solar recharging: Battery charging from solar power at stations.
• Energy management: Data-driven management of battery energy.

Delivery and ride-hailing riders in Vietnamese cities can swap batteries instead of waiting to charge. Local shops can host swap stations as a side business. Agricultural cooperatives can rent swappable batteries for electric equipment.

Drivers avoid long charging waits and the upfront cost of batteries through a swap model. Mobile financial services handle payment. Micro energy entrepreneurs, including women, can run stations as small businesses, and solar recharging lowers energy cost and emissions.

Battery swapping for two- and three-wheelers is growing across South and Southeast Asia, including large rollouts in Vietnam. Cassetex's micro-entrepreneur and mobile payment model is a reference for informal and last-mile fleets.

Founded in 2020 in Bangladesh (company overview). Raised 1.6 million US dollars from investors including Infusion Partners and Waverider International Consulting and aims to connect 50,000 electric vehicles by 2026, per its March 2025 article.