As cities accelerate public transit decarbonization, battery swapping has emerged as a viable alternative to conventional plug-in charging, offering rapid energy replenishment and reduced service disruption for high-frequency electric bus operations. However, this approach requires an inventory of standby batteries, driving up fixed costs. In addition, optimizing battery charging schedules becomes critical to controlling operational expenses under time-varying electricity pricing. This study proposes a comprehensive optimization framework that jointly determines the number of standby batteries, charging schedules, fleet size, and bus schedules across multiple depots and routes. To solve the model efficiently, a Lagrangian-Trip Chain Selection (LTCS) method is developed. The algorithm is validated using empirical data from a real-world bus network in Jiading District, Shanghai, China. The results demonstrate that the proposed method consistently outperforms alternative approaches, particularly in large-scale instances, delivering high-quality, near-optimal solutions within practical computation times. Specifically, the findings reveal that: i) From an economic standpoint, a battery capacity of 280 kWh is the optimal choice for battery swapping in the studied case; ii) A standby battery inventory equal to 60% of the fleet size—just over half the total vehicles—is sufficient to meet operational requirements.
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