The Centre’s plans to bring a battery swapping policy with inter-operability standards for Electric Vehicles (EVs) will benefit a state like Karnataka that has come out with policies and plans to attract investments in this industry and is home to some of India’s largest mobility start-ups, automobile industry giants said on Tuesday.
Presenting the Union Budget for 2022-23 on Tuesday, finance minister Nirmala Sitharaman said that considering space constraints in urban areas for setting up charging stations at scale, a battery swapping policy will be brought out, and inter-operability standards will be formulated.
The new business model, termed Battery or Energy as a Service, has been introduced to improve efficiency in what remains a largely untapped industry in a country, among the largest and most promising automobile markets in the world.
