Government Finalizes To Grant Incentives For The Battery Swapping Scheme

Government Finalizes To Grant Incentives For The Battery Swapping Scheme

Based on the 2022 Union Budget, the Indian government has finalized to offer incentives under the new scheme of Battery swapping scheme within the next two months. Since 2019, India has a yearn for the advancement of the Indian electric industry and as a part of it, the government has already set aside 100 billion rupees ($1.3 billion US Dollars) to encourage the production and usage of electric vehicles by offering incentives. However, only 10% of it has been used, and now the related authorities are expected to offer the current investment by drawing from the prior fund.

Incentives For The Battery Swapping Scheme

This plan is based on the announcement of the Battery Swapping scheme put forward by the Finance Minister, Nirmala Sitharam on 2nd  February. According to this, electric vehicle users can replace their depleted batteries with fully charged ones at swapping stations. Thus charging process will no longer be a painstaking matter and lessen the anguish of users through the rapid operation. But, Government plans to commence this service for three-wheeler electric vehicles like auto-rickshaws, motorcycles, and e–scooters for the need of last-mile delivery and ride-sharing.

Government Finalizes To Grant Incentives For The Battery Swapping Scheme

Like all other components in the vehicle, the battery wages high prices, and common people couldn’t afford it to have. In such a situation, swapping will allow the electric vehicle manufacturers to offer it as assistance through lease or subscription models. This will aid to pin down the owning cost and the price needed for maintenance. And, an incentive of up to 20% of the total subscription or lease cost of the battery is expected to be granted by the Indian government to the electric vehicles manufacturers along with the cost that they would get from buying clean vehicles. Additionally, an official told Reuters, the UK-based news agency company that the interoperability standards will be also framed in which a uniform standard will be imposed on all batteries that power various electric vehicles. Therefore, the government will formalize the design of battery and charge standards for the electric vehicle manufacturers that are aiming to install swapping electric charging stations. By this proposal, it could be ensured that all batteries will fit in and be used across the various electric vehicle versions of different automobile manufacturers.

All these agendas are planned to execute for the need of achieving the decarbonization goal that the country has undertaken. Also, the government realizes that electric vehicles will never bring out any negative impacts to society, only advancements, and surveillance. Recently, Reliance Industries has hooked up with Britain’s BP Plc in this venture to start up battery swapping stations following the union of Hero MotoCorp and Taiwan’s Gogoro in the same battery-swapping scheme. Our country is very much supportive in attaining accreditation for electric wagons among the different strata of the society due to the fact that petrol-powered internal combustion engine vehicles are waging huge prices for fuel and even leading to the destruction of the environment. On the other hand, this innovative idea of battery swapping was not accepted by several Global automobile manufacturers like Tesla. Tesla tried out this scheme and discontinued following this whereas the Chinese companies like rival Nio Inc and Contemporary Amperex Technology came forward for this cutting-edge system.

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