Budget 2022: Sops Announced For Electric Vehicles

The whole of the world is moving to promote clean and green environment and in line Electric Vehicles have been given a special push in this budget. The budget says it has the highest ever tender for Electric Vehicles.

Further, for Electric vehicles there has been promoted battery swapping that shall operatability in the sector. This battery swapping policy and push for clean tech and electric vehicles will help the EV segment in India. Also, the push for cleaner propulsion technologies will improve air quality and reduce consumption of fossil fuels.

What is Electric Vehicle battery swapping policy?

The policy shall enable private participation who will facilitate battery-swapping stations and technology. This announcement, subject to the efficiency of implementation can have a major positive impact on the growth potential of electric vehicles in India. This will further help companies involved in the manufacturing of electric buses and commercial vehicles along with their respective supply chain.

According to Rajeev Singh, Partner and Automotive Leader, Deloitte, "Battery swapping policy including interoperability could be a big booster for all the startups already working in this space. It could also drive movement to electrification of especially fleets for last mile connectivity for both people & goods."

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