NITI Aayog has taken another step towards meeting the target of zero carbon emissions. The commission has issued swapping battery policy. Under this, the facility of swapping batteries will be provided in every city where more than 5 lakh people live. The battery swapping policy was first announced in the Union Budget 2022 speech.
NITI Aayog had discussed it with the ministry in February 2022 to prepare a battery swapping policy. Following this discussion, NITI Aayog had also sought information from a wide spectrum of stakeholders representing Battery Swapping Operators, Battery Manufacturers, Vehicle OEMs, Financial Pre-draft Stakeholder Institutions, CSOs, Think Tanks and other experts.
what is swapping battery
Battery swapping is an option in which a charged battery is replaced by a discharged battery. Swapping battery option also reduces vehicle cost and fuel cost. Swapping batteries are used for smaller vehicles such as 2 and 3-wheelers. This is because it is easy to replace.
swapping battery policy
Promote battery swapping with Advanced Chemical Cells (ACC) to reduce EV cost and battery cost, so as to promote EVs. Also to market swapping battery options to provide more convenience to the people. Leverage policy and regulatory levers to make the battery swapping ecosystem risk-free. , to encourage partnerships between battery OEMs and other relevant partners such as insurance/financing. Providing integrated services to end users. Promoting longer battery life, including optimum usage of batteries during their usable lifetime and Recycling the battery is involved.
According to the NITI Aayog report, three major advantages of battery swapping are time, space and cost-efficiency. Furthermore, battery swapping provides a level playing field for innovative and sustainable business models such as ‘battery as a service’.
It is worth noting that the government is already encouraging the growth of the EV segment in the country. Under this, schemes like FAME I & II and Production Linked Incentive (PLI) for National Program on Advanced Cell (ACC) Battery Storage (NPAC) have been started by the government. Central as well as state governments are offering local policies to promote EV adoption.