Battery swap policy will drive uptake of electric vehicles, especially for public transport and freight mobility

The electric vehicle (EV) industry will get a big boost, especially on the public transport front with the formulation of a battery swapping policy that Finance Minister Nirmala Sitharaman announced in her speech. on the budget because it provides an affordable solution to the critical problem of range. anxiety.

Battery swapping allows consumers to replace their depleted batteries with fully charged batteries at dedicated stations. This reduces the effective charging time of electric vehicles to just a few minutes, making it comparable to powering conventional vehicles.

Including interoperability standards in the policy will allow the electric vehicle industry to collaborate and speed up the process of developing a battery exchange network in the country, experts said.

The shorter charge time with battery swapping also increases the run time of electric vehicles purchased for commercial use, helping buyers reach the break-even point faster.

“This would motivate companies engaged in car delivery and aggregation business to incorporate electric vehicles into their fleets,” said Sohinder Gill, chief executive of the Society of Manufacturers of Electric Vehicles (SMEV).

The finance minister said the private sector will be encouraged to provide batteries or power as a service. This will create new opportunities for companies to venture into the battery swap business, experts have said.

“The battery swap policy, including interoperability, could be a big boost for any startups already working in this space,” said Rajeev Singh, Partner and Automotive Leader, Deloitte India.

Companies working in this area include startups such as Sun Mobility, Chargeup, Battery Smart, and Bounce.

While the development of a battery exchange network in the country will benefit public transport and freight transport, it will also boost personal mobility.

“Creating strong charging infrastructure along highways across the country would promote the use of electric vehicles for interstate travel. This will solve the problem of range anxiety among commuters who want to drive a longer distance,” Gill said.

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