In her Union Budget 2022 speech, Finance Minister Nirmala Sitharaman announced that the government will bring a battery swapping policy to boost the use of EVs in the country.
In a move to reduce carbon emissions by up to 35 per cent by 2030 as part of a commitment under the Paris Climate Agreement, Prime Minister Narendra Modi’s government wants automakers to build more EVs.
In India’s electric vehicle market, which was valued at $5.47 billion in 2020, battery swapping is being touted as the panacea for many fundamental problems, including space constraints for setting up charging stations.
