Union budget 2022 | Center responsible for formulating battery exchange policy for electric vehicles

The private sector will be encouraged to develop sustainable and innovative business models for “battery or energy as a service”

The Center plans to propose a battery exchange policy with interoperability standards for electric vehicles (EVs).

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Presenting the Union budget for 2022-23 on Tuesday, Finance Minister Nirmala Sitharaman said that given space constraints in urban areas for the installation of large-scale charging stations, a trade-in policy batteries will be put in place and interoperability standards will be formulated.

The private sector will be encouraged to develop sustainable and innovative business models for “battery or energy as a service”. This will improve the efficiency of eco EV[1]system.

Welcoming the budget, Sohinder Gill, chief executive of the Society of Manufacturers of Electric Vehicles (SMEV), said the budget aims to strengthen the entire electric vehicle industry ecosystem, which will drive demand. of green vehicles, such as E2W, E3W, cars and buses.

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He also said the announcements would help develop electric vehicle infrastructure and increase the use of electric vehicles in public transport. This would motivate companies engaged in car delivery and aggregation business to integrate electric vehicles into their fleet.

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