The private sector will be encouraged to develop sustainable and innovative business models for ‘Battery or Energy as a Service’.
The Center is planning to bring a battery swapping policy for electric vehicles (EVs) along with inter-operability standards.
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Presented Union Budget for 2022-23 Finance Minister Nirmala Sitharaman on Tuesday said a battery swapping policy will be brought in and inter-operability standards will be drawn up to address the paucity of space in urban areas to set up large-scale charging stations.
The private sector will be encouraged to develop sustainable and innovative business models for ‘Battery or Energy as a Service’. This will improve efficiency in the EV eco[1]System.
Welcoming the budget, Sohinder Gill, Director General, Society of Manufacturers of Electric Vehicles (SMEV) said that the objective of the budget is to strengthen the entire ecosystem of the EV industry, which will boost the demand for green vehicles like E2W, E3W, cars and more. Will give Buses.
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He also said that these announcements will help develop EV infrastructure and increase the use of EVs in public transport. This will prompt businesses engaged in delivery and car aggregation businesses to incorporate EVs into their fleets.
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