Finance Minister Nirmala Sitharaman has announced in the Union Budget 2022 that the government will introduce a battery swapping policy for electric vehicles in the country. The finance minister said that “interoperability standards will be drawn up” meaning that a uniform standard for batteries could be introduced for all EVs, and this could pave the way for standardization of battery technology for electric vehicles. The new policy is seen as a positive step to encourage the use of electric vehicles, and is widely seen as something that will give a huge boost to the EV industry.
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Finance Minister Nirmala Sitharaman in her budget speech, without going into detail, said, “Keeping in mind the space constraints in urban areas to set up large-scale charging stations, a battery-swapping policy will be brought in and interoperability standards will be formulated.” Will go.”
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The Finance Minister said that the policy will promote the use of public transport in urban areas where special mobility zones will be introduced along with zero fossil fuel policy. This will also address the space constraints in urban areas. The domestic electric vehicle industry has welcomed the government’s proposal, and there seems to be a general consensus among all EV players that such a policy will only help boost the EV industry. The Society of Manufacturers of Electric Vehicles (SMEV) has welcomed the proposal, saying that “it will give a major boost to the EV industry.”
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Society of Manufacturers of Electric Vehicles (SMEV) director general Sohinder Gill says the proposed battery-swapping policy will give “a big boost” to the EV industry.
“We welcome the measures announced by the Hon’ble Finance Minister today. The Budget for 2022-23 gives a major impetus to the Electric Vehicle (EV) industry. EVs by introducing a battery swapping policy and recognizing batteries or energy as a service Increase the use of EVs in infrastructure and public transport. This will encourage businesses engaged in distribution and car aggregation businesses to add EVs to their fleets. This will enable companies to venture into the business of battery swapping. Additionally, special Swachh Banana zones will further accelerate the adoption of EVs and create awareness among citizens. The move will benefit the entire segment, i.e. E2W, E3W, E-Cars and Buses.”
“The budget also takes into account the need for skilled resources in the industry. The introduction of new skilling programs in ITIs will bridge the skill gap existing in the industry. The industry will be happy to work with the government to develop customized curricula. Demand from the EV industry. Overall, the budget aims to strengthen the entire ecosystem of the EV industry, which will boost the demand for green vehicles,” Gill said.
Hero Electric Managing Director Naveen Munjal said that the proposed policy will address the issues of range concern and battery swapping stations will be an asset to the evolving EV ecosystem.
Naveen Munjal, MD, Hero Electric, India’s largest electric two wheeler manufacturer, said, “This move will open the way for further growth and development of the EV and energy sector in the country. Hero Electric has always been a strong proponent of standardization. EV Battery Pack EV To accelerate adoption. The interoperability standards will help address the issues of concern and battery swapping stations will be an asset to the evolving EV ecosystem across the country.”
Union Budget 2022 is a futuristic budget with focus on deployment of advanced technology like EVs, green mobility and digitization. The Budget 2022 announced by the Hon’ble Finance Minister today is a positive for the electric vehicle sector, reinforcing the commitment of the Government of India to accelerate the EV and green mobility eco-system in India,” said Sulajja Firodia Motwani, Founder and CEO, Kinetic Green. said.
FADA President Vinkesh Gulati has welcomed the proposed EV policy.
“FADA welcomes and supports the efforts and initiatives of the Government towards Electric Mobility. There is a clear emphasis on creative, sustainable and innovative business models. Battery Swapping and Energy as a Service (EAAS) definitely towards clean mobility The special mobility sector for electric vehicles and promotion of clean technology for public transport validates the government’s commitment to e-mobility, in terms of manufacturing, sales, said Vikas Vinkesh Gulati. Will instill confidence in the EV industry and create a sense of assurance amongst the customers, said President, Federation of Automobile Dealers Association.
Analysts and observers say that battery-as-a-service policy as well as battery swapping will certainly pave the way for increased adoption of electric vehicles.
“The policy initiatives regarding battery as a service and battery swapping, especially for two-wheelers and three-wheelers, which are seeing good traction, address the primary challenge around battery infrastructure, to drive adoption of electric vehicles. There is a clear directional incentive on the part of the government for this. “Only expected to take off from here,” said Sridhar V, partner, Grant Thornton India LLP.
“If implemented efficiently, the battery swapping policy is likely to go a long way in alleviating range anxiety with respect to EV adoption, as well as aiding economies of scale in battery production. Finance The minister also publicly announced plans to further EV penetration. Create transport and specialized mobility sectors for EVs, which should also increase demand for EVs. Besides, the inclusion of energy storage in the harmonized list of infrastructure EV battery manufacturers will be facilitated by affordable financing availability,” said Shamsher Dewan, Vice President and Group Head – Corporate Ratings, ICRA Ltd.
Some EV companies have welcomed the government’s intentions to drive EV adoption, but are cautious about promoting only battery swapping, rather than simplifying EV ownership overall for consumers.
“It is heartening to see that the government is considering the transition to electric vehicles at a rapid pace. Although batteries as a service may be implemented only for a few sectors, the private sector needs to make a sustainable business model. This is a welcome move. The incentive should be for the swapping stations given on developing safe battery packs cannot be applied to direct consumers considering the safety aspect,” said Suhas Rajkumar, CEO and Founder, Simple Energy. Because this will lead to further ownership of the vehicle complex.”
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“The fact that the Union Budget 2022, does not focus on the traditional auto business, reflects the intention of the government to focus on new technologies with a zero fossil fuel policy. What has been missed is a clear indication of the expansion of the FAME scheme. And how can it support the expansion of the charging network in India to help switch from petrol and diesel based vehicles to EVs.” From charging hardware and software to last mile delivery services using charging services (ChargeGrid) and electric mobility.
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