new Delhi: Presenting this year’s budget, the Finance Minister had talked about implementing a battery swapping policy, which is being discussed since then. Regarding the policy, a senior government official said on Thursday that the government think-tank NITI Aayog may start a ‘battery swapping policy’ by December this year.

NITI Aayog advisor (Basic Connectivity-Transport and Electric Mobility) Sudhendu Jyoti Sinha said the battery swapping policy is likely to be implemented by December. In addition, NITI Aayog is working on a proposal to prepare railways to set up electric vehicle charging stations at railway stations in cities with a population of more than one million.

Talking about the benefits available under this policy, making battery a service business will also reduce the cost of battery operated two and three wheelers and increase its use. Batteries account for 40-50% of the cost of electric two-wheelers. With the growth of the battery swapping business, electric scooter buyers will be able to buy scooters without batteries and go for battery swapping and rent batteries to scooters or other electric vehicles at a nominal cost.

The policy was announced by Finance Minister Nirmala Sitharaman in her 2022-23 budget speech and is being prepared by NITI Aayog. Finance Minister Nirmala Sitharaman, while presenting the budget for the year 2022-23, had said that keeping in mind the space constraints for setting up charging stations in urban areas, a battery swapping policy would be introduced and interoperability norms would be formulated. The private sector will be encouraged to establish sustainable business models for battery or energy services thus improving the efficiency of the electric vehicle ecosystem.

The policy will facilitate the rapid rollout of battery swapping centers where electric vehicle (EV) owners will be able to replace their charged batteries and refill their EVs.