Swappable batteries which are no longer used in electric motorcycles are hazardous waste. So, there is a need to make some efforts to extend battery life and process battery waste. The efforts to extend battery life by repairing, refurbishing, remanufacturing, and reusing as well as process batteries by recycling are circular businesses. The development of a circular battery swap business cannot only be carried out by one company but involves various companies and various stakeholders. This study seeks to identify the stakeholders involved in the development of a swappable battery circular business, identify the roles of stakeholders and conduct stakeholder mapping. Data collection was carried out through literature studies, observations, and in-depth interviews as well as distributing questionnaires. Data is processed using Mende low matrix and interactive analysis. The results of the study show that to develop a circular business of electric motorcycle swappable batteries, 30 stakeholders need to be involved. Stakeholders are mapped into four groups, namely key players, keep informed, keep satisfied, and low priority. Stakeholders who are included in the key player category are stakeholders who are the main priority because these stakeholders are important stakeholders and have a major influence in the development of circular business. There are 25 stakeholders included in the key player. The large number of key players shows that circular business development cannot only be carried out by one company, it needs to involve various stakeholders. Each stakeholder has a role in developing a circular business. Stakeholder roles include policy creator, coordinator, implementer, facilitator, and accelerator. Policies regarding battery waste already exist, but these policies need to be evaluated for their effectiveness. Coordination and communication are one of the keys to successful circular business development, therefore coordination and communication are always carried out and it is necessary to involve all existing stakeholders.