Budget 2022: Battery Swapping Policy Big Booster for Electric Vehicles

    Finance Minister Nirmala Sitharaman in her Budget speech in the Lok Sabha announced that the government will bring a battery swapping policy to boost the use of EVS in the country in view of space constraints for setting up charging stations and interoperability standards will be formulated.

    “The government’s proposal to introduce a battery swapping policy with interoperability standards for electric vehicles (EVs) will benefit the entire ecosystem of the EV business, particularly the electric two-wheeler and three-wheeler segments. The regulation will hasten the development of battery swapping stations, where EV owners may recharge their vehicles by exchanging out depleted batteries for fully charged ones. It will ease range anxiety and charging time, which are two of the most common concerns among potential electric vehicle purchasers.,” said Pawan Goyal, Director JRG Automotive Industries India Pvt. Ltd.

    The Union Budget 2022-23 aims at strengthening the whole ecosystem of the EV industry.

    “Considering the constraint space in urban areas for setting up (electric vehicles) charging stations, a battery swapping policy will be brought out and interoperability standards will be formulated,” Sitharaman said in her Budget speech in the Lok Sabha.

    She stated that the private sector will be encouraged to set up sustainable business models for battery or energy service and this will improve efficiency in the EV (electric vehicle) ecosystem.

    “We will promote a shift to use public transport in urban areas. This will be complemented by clean-tech and governance solutions, special mobility zones with zero fossil fuel policy, and EV vehicles,” she stated.

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