Budget 2022: Battery swapping policy to improve country’s EV infrastructure, say EV sector leaders

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Mr. Jeetender Sharma MD & Founder, Okinawa Autotech:

The Union Budget 2022-23 provides great encouragement for the EV sector. The introduction of the battery swapping policy to improve the country’s EV infrastructure is a positive and progressive step that could potentially address the range anxiety issue, which is one of the impediments to a mass-market transition from internal combustion engine-based vehicles to electric vehicles. This policy will be critical in enabling a well-established EV infrastructure across the country while instilling customer confidence in riding EVs on Indian roads. More importantly, this will boost EV adoption in the last-mile delivery space, where time constraints make instant battery swapping more viable than charging the existing battery.

With collective efforts from the government and private players, we are confident to realising the nation’s vision of converting all vehicles in India to electric vehicles by 2030. In this regard, we strongly urge the government to roll out EV-charging infrastructure with interoperability standards at all public, private, and strategic locations as soon as possible in order to support both mobility needs and the nation’s commitment to reducing emissions.

Mr. Rajesh Gupta, Founder & Director, Nupur Recyclers

We welcome the government’s proposal to introduce a battery swapping policy and interoperability standards for the electric vehicle sector. Consumers will be able to seamlessly switch the battery on-the-go without worrying about running out of charge, which is especially useful when out for the day. Furthermore, this policy encourages companies like ours to continue developing efficient solutions to power India’s EV Revolution, as well as opens up new growth opportunities through the Energy-as-a-Service model, which is expected to explode in popularity in the coming years.

Mr. Amarjit Sidhu, Executive Director, Detel

The union budget for 2022 carries a positive message for the EV sector. More efforts than ever are being made by the government towards boosting the EV ecosystem. It’s very encouraging to see this renewed dedication, and it also looks like there are some promising initiatives in store for 2022 with this budget. The Indian government’s recent policy to allow the swapping of electric vehicle batteries is a step in the right direction. This new policy will help get more people to buy electric vehicles and will work to increase battery recycling, thus helping build infrastructure for electric vehicles. Turning the most expensive EV component—the battery—into an operational cost, will significantly reduce the prices of electric vehicles and promote their adoption.

Dr. Yogesh Bhatia, Managing Director & CEO, LML Electric

“The Union Budget 2022’s four key pillars of inclus, ive development, productivity improvement, energy transition, and climate action will undoubtedly boost the country’s economic growth. Clean and sustainable mobility is critical for reducing fossil fuel dependence and combating climate change. We applaud the government’s efforts in this area and look forward to seeing concrete steps taken to address the barriers to EV adoption. India’s electric power is increasing! Special mobility zones with a zero-fossil-fuel policy will aid in the transition to cleaner technologies and the development of a more sustainable economy. I look forward to seeing the positive impact electric vehicles will have on India and the planet. “

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