Niti Aayog The additional charging stations, tax reductions and financial incentives have cleared the path for electric vehicles. In the union budget 2022, the government had announced its plan to introduce a national battery swapping policy for electric vehicles.
Finance Minister, Niramala Sitaraman announced setting up charging stations in urban areas considering space constraints. Also, a battery swapping policy will be rolled out soon and interoperability standards will be formulated.
The Indian public policy think tank, NITI Aayog will roll out a battery swapping policy in the next 4 months. The move will implement the EV battery swapping legislation, which will lower the cost of EVs and increase their adoption in the country.
Indian government is in attempts to mainstream electric mobility by establishing battery swapping policies, expanding charging infrastructure and incorporate cleantech in public transportation.
EVs have progressed from inconvenient and unreliable charging as well as low-power vehicles to simple-to-charge and high-performance ones. Advances in battery technology and the development of charging stations are paving the ways for a transition from internal combustion engines to electric automobiles.
EVs nowadays can reach high speeds of 170 km/h and have a range of up to 300 km. The proposed policy will introduce disruptive business models such as battery as a service (BaaS), leasing, and others so that electric two- and three-wheeler and three-wheeler customers do not have to own the battery, which accounts for about half of the total vehicle cost, lowering the upfront vehicle cost significantly below that of their internal combustion engine (ICE) counterparts.
EV owners will be able to switch their exhausted batteries for charged ones at specified locations thanks to battery swapping. This makes it easier to operate automobiles that would usually take hours to charge. EV battery swapping policy will give EV buyers an option not to own its battery thereby bringing down the upfront cost and fast-tracking EV adoption.