In the Union Budget 2022, the government has made an important announcement, under which all-electric vehicles will now have to make arrangements for battery swapping. Also, the same standard battery will have to be installed in all the vehicles. The government is serious about electric vehicles and wants to motivate more and more people to take electric vehicles in the coming times. In view of this, the budget has been talked about to develop infrastructure for charging electric vehicles in smart cities across the country. Let’s understand what is battery swapping
What is Battery Swapping?
The finance minister has mentioned that a special policy for battery swapping for EVs will be announced. Battery swapping is a process whereby a private EV owner can exchange a depleted battery for a fully charged one, without having to wait for the battery to charge up to a sufficient amount.
The policy, when introduced with interoperability standards, will force EV makers to manufacture EVs with standardized, removable/disposable batteries while reducing the cost of EV ownership by negating the need to purchase a new battery – currently the most expensive component of an EV.
Sitharaman also stated that “interoperability standards will be formulated” which means a uniform standard for EV batteries could be introduced, which will be adhered to by all EV brands.
It’s uncertain how long it would take to introduce standardized battery swapping technology and interoperability measures, but the move will provide much relief to EV owners, as it attempts to solve both the domestic and intra-city charging solutions.
At present only selected electric two-wheeler manufacturers like Hero Electric, Okinawa Motors, Simple Energy and Bounce Electric offer the option of battery swapping while Ather Energy, Ola Electric, Tork Motors etc. have non-removable batteries.
The finance minister also mentioned that the private sector will be encouraged to provide “sustainable and innovative solutions” to help sustain the EV ecosystem.
The EV sector grew exponentially in 2021, buoyed by the rise in fuel prices and central and state-initiated policies. The Indian EV market, which is expected to grow to a size of $150 billion by 2030 is also expected to attain 30 percent market penetration over the next 8 years.