The Government of India recently announced the Union Budget for 2022. This includes various proposals for the Indian automotive industry. The Finance Minister, Nirmala Sitharaman also proposed to introduce a new battery swapping policy for electric vehicles via the Union Budget. But, explicit details of the policy or the introduction timeline are still unclear due to their non-disclosure. Nirmala Sitharaman also stated that private sectors will eventually develop sustainable and innovative business models for Battery Swapping Services.
What is Battery Swapping?
Using Battery Swapping stations customers can simply remove the depleted battery pack and replace it with a fully-charged unit. The process greatly reduces the charging time which is one of the greatest problems the EV industry is facing. Fixed batteries need a considerable amount to charge and reduce the turn-around time of the vehicle. With swappable batteries, the user can simply replace the depleted battery with a fully charged one and be on the way within a matter of minutes. Electric two-wheeler manufacturers including Hero Electric, Revolt, Bounce, Simple Energy, and a few Chinese-origin vehicle brands are in favour of the battery swapping technology. Thus, the Finance Minister proposes that a workable battery swapping model needs implementation and adoption by various EV manufacturers.
The upcoming policy will help promote battery swapping in India along with a standardisation formula that will help manufacturers share the power packs. This will also help formulate interoperability standards. Electric vehicle manufacturers such as Hero Electric and TVS Motor Company have welcomed this upcoming decision and also revealed that battery swapping technology will also help address the range anxiety issues. The model will also help reduce charging times and promote clean mobility. In 2021, leading electric vehicle brand Ather Energy also decided to offer its proprietary fast-charging connector to other electric two-wheeler OEMs to create an efficient ecosystem.
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