Niti Aayog drafts battery swapping policy for EVs

India’s supreme Public Policy think tank, the Niti Aayog has come out with a draft battery swapping policy. This draft proposes several incentives for electric vehicle (EV) manufacturers to provide battery swapping options and for other companies to step into the battery-as-a-service industry. Battery swapping enables EV users to quickly replace their discharged battery with a charged one. This practice is very much similar to the swapping of batteries in mobile phones which were prevalent earlier. Lately, Electric Vehicles are gaining immense popularity and customers are getting more incline toward EVs amid the rising fuel prices.

Several new electric scooters have been launched in the past year. This eventually has propelled and boosted the Indian government’s goal of electrifying the transport system by the year 2030. During this year's Budget announcement in the month of February, Finance Minister Nirmala Sitharaman informed that the Indian Government is working on a battery swapping policy to reduce the cost of purchasing electric vehicles. Additionally, this would make it easier for users to quickly get a boost instead of waiting for their EVs to charge up.