Mumbai, Feb 1 : Hailing the government’s decision to formulate a battery swapping policy industry players said the move will fuel the speed of adoption of electric vehicles in the country. “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,” Finance Minister Nirmala Sitharaman said in her Budget speech. She noted that, with this, 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,” the minister added. “We welcome the measures announced by the honorable Finance Minister, today. The budget for 2022–23 gives a huge impetus to the electric vehicle (EV) industry. Introducing the battery swapping policy and recognizing battery or energy as a service will help to develop EV infrastructure and increase the use of EVs in public transportation,” Society of Manufacturers of Electric Vehicles (SMEV) Director General Sohinder Gill said. Gill further said this move will motivate businesses engaged in delivery and ride aggregation businesses to incorporate EVs into their fleet. “It will create new avenues for companies to venture into the business of battery swapping. Additionally, creating special clean zones will further accelerate the adoption of EVs and spread awareness amongst the citizens. The move will benefit the whole segment, i.e E2W, E3W, E-cars, and buses,” Gill added. Expressing his views on the government’s move, Omega Seiki Mobility Founder and Chairman Uday Narang said, “An introduction of a battery swapping policy will play a pivotal role in the long-term adoption of electric vehicles in India. Interoperability standards across industry for EVs will be especially beneficial for electric two and three-wheelers.” According to Pratik Kamdar, Co- Founder, Neuron Energy, considering the lack of charging infrastructure in the country, the impetus given to battery swapping will fuel the speed of adoption of EV and will help alleviate mental blocks pertaining to it’s viability and usage. Moreover, it will help us eliminate deterrents caused due to range anxiety. “The policy is also crucial as it will mean that consumers will not have to purchase a battery but instead rent one and swap later thus making it more cost effective. Furthermore, the interoperability standards will strengthen R&D for the sector enabling us to gauge customer interest and focus on product development to enhance reliance and boost demand,” he added. Tata Steel CEO & MD TV Narendran said the battery swapping policy will aid the sustainability journey and encourage the adoption of EVs. Stating that the demand for electric vehicles continues to surge ahead as we are witnessing consumers’ preferences are changing, Avis India MD and CEO Sunil Gupta, said, “the special push given to electric vehicles, increasing EV battery production and development will give the private sector special benefits.” Myles Founder and CEO Sakshi Vij said, “The battery swapping policy will give a huge boost to the commercial adoption of EVs in a big way. So, vehicles such as taxis, last-mile delivery vehicles, heavy commercial vehicles, and light commercial vehicles will get a boost. It will also improve the inter-state movement of EVs which will make tremendous difference to the entire EV ecosystem.” (UNI)