Niti Aayog is set to come up with a battery swapping policy for electric vehicles (EVs) in the next three-four months, The Economic Times reports.
The policy will bring about business models like the battery as a service (BaaS), leasing, etc to ensure that EV owners do not necessarily have to own a battery as such.
Batteries make up around 50 per cent of the total vehicle cost. The aforementioned policies will cut down the upfront cost for EVs.
It will provide the EV owners flexibility to swap their batteries at specific stations within a few minutes.
They could then charge batteries at their home itself.
“I am confident that electric vehicles will be cheaper than ICE engine vehicles in the near future,” Niti Aayog CEO and senior bureaucrat Amitabh Kant was quoted in a report by ET.
He explained that the initial phase of the policy will be concerned with catering to the light EVs. It is comparatively easier to plug and play batteries from the vehicles to the battery swapping stations in these kinds of EVs.
The overall strategy aims to create new avenues of investments in innovative business models like BaaS to subsequently prepare a level-playing field for all battery service providers.
An appeal from Swarajya
At Swarajya, we rely on our readers' support through subscriptions to sustain our media platform. Unlike larger conglomerates, we are unable to relentlessly chase advertising money — our model is largely built on your patronage.
Your support has never been more crucial. We work tirelessly to deliver 10-15 high-quality articles daily, ensuring you receive insightful content from 7 AM to 10 PM.
If you believe India's story has to be articulated in a way it has never been done before without shrugging it off, become a patron (or) subscribe now for ₹̶2̶4̶0̶0̶ ₹1999 and get 12 print issues, unlimited digital access for 1 year, a special India that is Bharat T-shirt (Offer ends soon).
We are counting on you!