Rising fuel prices are pushing a lot of buyers toward electric vehicles. But the growth of electric vehicles is hampered by the cost and charging infrastructure. So the government has launched a new policy that will be navigating two problems with one solution. This new policy is the battery swapping policy. In today’s article, we will discuss how the government is making EVs affordable.
What is this battery swapping policy?
Finance Minister Nirmala Sitharam presented the battery swapping policy in Budget 2022. The battery swapping policy was considered due to space constraints of installing charging stations in urban cities. Now Niti Aayog has released a draft of the battery swapping policy.
The government plans to develop a battery swapping network across India. In the first phase, priority will be given to metropolitan cities with a population of more than 40 lakh. The second phase will cover all major cities, including state capitals, UT headquarters and cities with a population of over five lakhs. The draft is up for consultation, and Niti Aayog has invited comments on it until June 5.
How will it make EVs affordable?
The policy will make provisions for EV makers to sell electric vehicles without a battery. This vehicle will come with swappable batteries. Doing this will reduce the purchase cost and will make EVs more accessible to common people. Another thing the policy says is that any individual and entity is free to set up a battery swapping station at any location. They just have to maintain the technical safety and performance standards. This should come as a boon as it’s more practical than setting up charging stations.
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