Construction mode and pricing strategy of electric vehicle swapping station

Amid the low-carbon transition in transportation, the popularity of electric vehicles is constrained by replenishment efficiency. The swapping service emerges as a potential high-efficiency solution, yet faces commercialization challenges in cost, standardization, and network effects. Based on the trend of charging-swapping integration, this paper constructs three construction modes for swapping stations (namely, the integrated mode, the independent mode, and the cooperative mode). Using game theory, it analyzes the equilibrium decisions of supply chain members and their impacts on service prices, demands, and profits. The EV manufacturer’s optimal mode choice dynamically depends on the industry stage and the strength of the network effect. Crucially, during the introduction period of swapping service, the cooperative mode synchronously improves profits and achieves a win-win outcome for manufacturer and third-part provider under a medium-high network effect. The independent mode achieves optimal consumer surplus and social welfare via market competition in the mature stage of swapping service. This paper provides a theoretical basis for the innovation and management practices of EV replenishment business models, offering insights for enterprises to promote transportation electrification.