Union Budget 2022: Sitharaman Promises Battery-Swapping For EVs; Know What It Is

New Delhi: Union Finance Minister Nirmala Sitharaman, presenting the Union Budget-2022 on Tuesday, announced that the Centre will soon come up with a battery-swapping policy for electric vehicles (EVs).

What is battery-swapping?

An EV owner will be able to replace a discharged battery with another fully charged one instead of having to wait while recharging the discharged battery.

Under such a policy, EV makers will have to manufacture vehicles with standardised, removable/disposable batteries. Such a policy will also do away with the need to set up a large number of charging points in cities already struggling with space constraints.

In a push to the EV eco-system, Sitharaman said that the Centre will also formulate “interoperability” standards, which will set uniform standards for EV batteries.

At present, only a few EV manufacturers offer battery-swapping option. Most EVs come with non-removable batteries, the most expensive component of the vehicle.

The EV sector saw phenomenal growth in 2021. The EV market in India is projected to grow to $150 billion by 2030 and capture a 30 per cent market share.