Government’s think tank NITI Aayog today released the draft Battery Swapping Policy and invited comments and suggestions from all the stakeholders.
India pledged to reduce carbon emissions intensity by 45% at the COP26 summit held in Glasgow. We will increase our non-fossil fuel energy capacity to 500 GW by 2030. We will also meet half of our energy needs from renewable energy by 2030. India is on track to achieve the Net Zero goal by 2070. Road transport is one of the main contributors to CO2 and accounts for one third of particulate matter emissions, said the official statement.
It is essential to transition to electric mobility in order for the transport sector to become more sustainable. These commitments can be met by electric mobility, which is packed with innovative business solutions and appropriate technology. It also has support infrastructure. Several support initiatives have been put in place, including the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME I and II) and the Production Linked Incentive for the National Programme on Advanced Cells (ACC) Battery Storages (NPACC) to increase the country’s battery manufacturing capacity. To encourage EV adoption, state governments are developing additional policies, it added.
The two-wheeler (2W), and three-wheeler (3W), vehicle segments are the leaders of India’s emobility revolution. The 2W segment accounts for 70% to 80% of private vehicles while the 3W segment plays a crucial role in last mile connectivity within cities. Although EVs have higher upfront costs than their internal combustion engine (ICE), they are more affordable over the life of the vehicle, which is why the total cost of ownership has been comparable to ICE vehicles.
Alternatives to battery swapping include exchanging charged batteries for discharged ones. The cost of the vehicles upfront is reduced by battery swapping, which de-links them from fuel (Battery). For smaller vehicles, such as 2 or 3 wheelers, battery swapping is a popular option. They have smaller batteries and are therefore easier to swap than other segments of the automotive market. Three key benefits of battery swapping are that it can be done quickly, efficiently, and with minimal cost, provided each swappable lithium-ion battery is being used. Battery Swapping also offers a level playing field for innovative and sustainable business models like ‘Battery As a Service.
In view of the limited space available in urban areas to install charging stations at scale in cities, Hon’ble Finance Minister announced in her Budget Speech 2022-22 that the Government of India would introduce Battery Swapping policy as well as interoperability standards. This will help improve the efficiency of the EV Ecosystem.
NITI Aayog convened an inter-ministerial meeting to develop a comprehensive and robust Battery Swapping policy framework for February 2022. NITI Aayog held a pre-draft stakeholder meeting with a broad range of stakeholders, including Battery Swapping Operators as well as Vehicle OEMs, Financial Institutions and CSOs.
