The annual Union Budget of India is out for the year 2022 and there is something in it that can benefit EVs. The government has introduced new policies to encourage the adoption of more and more EVs by users.
The policies include the introduction of new Special Mobility Zones which will be dedicated to electric vehicles only. Finance Minister Nirmala Sitharaman announced that these zones will be free of fossil fuel-driven vehicles.
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During her speech, Nirmala Sitharaman said, “special mobility zones with zero fossil fuel policy to be introduced.” Further, she announced that Govt will introduce a new Battery Swapping Policy. This will aim to help areas that have space constraints.
As most of the EVs need recharging and thus need a location to charge, swapping the battery can be a boon for users without a dedicated personal parking space. The Minister said, “Considering space constraints in urban areas, a Battery Swapping Policy will be brought in.”
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Speaking about Government’s move, an analyst at ICICI Securities said, “To further promote electrification, government to come out with Battery Swapping Policy which also includes the concept of energy/battery as a service. This will help in developing the requisite charging station ecosystem and is positive for the domestic EV space. Government plans to promote private sector to incur required Capex in this domain.”
