Rent pricing for EV battery leasing must obey win–win rule for BLO and consumers. Rent is affected by battery cost, vehicle weight, energy price and discount rate. Battery cost plays dominant role for the BLO survival as described in ‘5‐3‐2’ Law. Heavier EVs are more suitable for battery leasing when battery cost is high. The profitability of BLO is sensitive to the price of gasoline and electricity.