What Janus Electric Does

Janus Electric is all about converting big diesel trucks into electric ones. Instead of building new trucks from scratch, they take existing ones and swap out the engine for an electric drivetrain. The clever bit is their patented battery-swap system - it lets drivers pull into a station and swap batteries in under five minutes, kind of like a pit stop. That saves heaps of time compared to traditional EV charging.

They make money in two ways: one-off payments when a truck is converted, and ongoing fees through a subscription-style model - charging for battery use, energy, and access to their swap stations. Big names like Cement Australia and Qube Holdings are already on board, which gives them some credibility.

Pros

• Cool tech: Their battery-swapping system is unique and solves a real problem - charging time.
• Recurring income: The subscription model could mean stable, long-term revenue.
• Green credentials: Cuts carbon emissions and noise - which a lot of companies are now under pressure to do.
• Big market: There are over 120,000 heavy trucks in Australia, and they’ve got their eyes on international markets too.

Cons

• No revenue yet: They’re still in startup mode and recently posted a ~$17 million loss.
• Early stage: Lots of potential, but they haven’t proven it can scale or become profitable.
• Tough competition: Big dogs like Tesla, Volvo, and BYD are also in this space - and they’ve got way more money and resources.
• Adoption risk: Truck operators might go for purpose-built EVs from manufacturers instead of retrofits - especially if those come with warranties and support built in.

Janus Electric is doing some pretty cool stuff — swapping out diesel engines for electric ones and using a battery-swap system that’s way faster than charging. The idea makes sense, especially with all the pressure on big companies to cut emissions. But it’s still really early days. They haven’t made any real money yet, and there’s a fair bit of risk around whether the model will take off. Plus, they’re up against some massive global players like Tesla and Volvo, which could make things tricky.

If it all works out, it could be a game-changer. But it’s definitely more of a high-risk, long-term punt — not something to back the truck up on just yet. One to watch, or maybe nibble at if you’re into early-stage stuff with big upside (and downside) potential.