Abstract:

During Budget 2022-2023, the national government announced plans to introduce a Battery Swapping Policy and interoperability standards, with the intent of building and improving the efficiency of the battery swapping ecosystem, thereby driving EV adoption. The overall vision is to catalyze the large-scale adoption of EVs by improving efficient and effective use of scarce resources (viz. public funds, land, and raw materials for advanced cell batteries) for the delivery of customer centric services. This Policy would support the vision by promoting the adoption of battery swapping technology implemented via BaaS business models which will ensure lower upfront costs, minimal downtime, and lower space requirements. The Policy addresses key technical, regulatory, institutional, and financing challenges that will help develop battery swapping ecosystems to unlock the large-scale adoption of battery swapping in India.