Budget Reaction Quote from Auto/EV
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.
Mr. Rajesh Gupta, Founder & Director
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.