The Centre intends to issue a battery switching policy for electric vehicles that includes interoperability requirements (EVs).
Budget Formulation Explained
In her presentation of the Union Budget for 2022-23 on Tuesday, Finance Minister Nirmala Sitharaman announced that, due to the lack of space in metropolitan areas for large-scale charging stations, a battery swapping policy and interoperability standards will be developed.
The commercial sector will be encouraged to build sustainable and creative ‘Battery or Energy as a Service’ business models. The EV eco[1]system will be more efficient as a result of this.
Sohinder Gill, Director General of the Society of Manufacturers of Electric Vehicles (SMEV), welcomed the budget, saying it intends to enhance the entire ecosystem of the EV industry, which will boost demand for green vehicles such as E2W, E3W, cars, and buses.
He also stated that these announcements would aid in the development of electric vehicle infrastructure and the increased use of electric vehicles in public transit. It would encourage delivery and automobile aggregation companies to add electric vehicles to their fleets.
