Union Budget 2022: Govt To Bring Battery Swapping Policy, Formulate Inter-Operability Standards, Says FM Sitharaman

Union Finance Minister Nirmala Sitharaman on Tuesday (1 February) presented the Union Budget 2022-23 in the Parliament.

In her budget speech, the Finance Minister said that the government will bring a battery swapping policy to tackle the space-constraint for EV charging infrastructure in urban areas.

"Considering the constraint of space in urban areas for setting up charging stations at scale, a battery swapping policy will be brought out and inter-operability standards will be formulated," FM Sitharaman said.

She further said that the private sector will be encouraged to develop sustainable and innovative business models for battery or energy as a service.

"This will improve efficiency in the EV ecosystem," she added.