No one has said battery swapping is a dead duck, it's just that it isn't a good fit for CONSUMER use.
The current costs of batteries are way too high to justify two batteries per vehicle and that is the absolute MINIMUM you need to deal with in any swap system for consumers (I actually agree with Billy that it would indeed be higher than 2), not to mention the HUGE barrier to putting swap stations up between major cities.
Consider Atlanta to Charlotte, a not uncommon drive for a lot of businessmen, Four hours, 240 mile. But how would you ever afford the two swap stations you would need between these two cities unless the number of vehicles who could use it are at least several hundreds of thousands in each of the cities (remember only a small fraction of the people from each city are going to drive to the other city each day, so unless you have a HUGE number of Swappable cars in each city, there is no way to support a pair of swap stations in between the two).
Indeed, here's the kicker, how much do you think you could charge for a swap, not counting the cost of the electricity (because that's a pass thru from the Electric company), and still make it affordable?
Remember a 24 kWh battery in a small car (Leaf size) is only good for ~100 miles, so the Electricity cost is going to be about $4.00
A Prius (same size as the Leaf) can go 50 miles per gallon or can do the same 100 miles using 2 gallons of gas.
Assume $5 per gallon for gas, that means if you are charging more than $6 per battery swap, then you aren't saving money over IC technology.
If 1 out of every 2,000 Swap battery car owners decides to drive between the cities every day (not real likely), and you had 200,000 swappable cars in each city then you would do ~200 swaps a day at each station, which at $6 per swap you are only making $1,200 net income per day which hardly justifies the huge cost of $6 MILLION in inventory per station. (~300 batteries at $10,000 each (note I've significantly lowered the price of the battery over current costs, estimated to be $750 per kWH or ~$18,000 for the Leaf battery))
http://online.wsj.com/article/SB10001424052748704635204575242382820806878.html
Of course a swap station doing 200 swaps a day, with 80% of the swaps in the peak driving time from 8am to 8pm would need two swap bays and and at least 3 operators. How can you justify that expense when the interest on your battery inventory alone (@ 5% interest) is over $800 per day, and basic wages/benefits/taxes will cost you about $500 per day. Then there is the cost of the twin bay robotic station itself and the maint of the robotics and the 100 or so very expensive battery chargers you need to get the batteries recharged for the next driving day. Now to really make your costs go nuts, you would also need to suck in over 200 kWs of electricity every hour. That's a huge load and these stations are in the middle of nowhere. So somebody's going to have to front the cost to the increased power line capacity to get that much power to these stations. (the station would use the equiv electricity of ~180 houses each day)
So again, how much would you have to charge per swap to make money on these exactly?
But, this is END STATE, what are you going to do for the two decades or so that it takes until the number of swappable EVs in each of the two cities gets in to the 200,000+ range?
Go broke.
Arthur