With increasing climate consciousness and the need to go green, a giant wave of electric vehicles and related technology can be seen globally and in India. India is the world’s fifth-largest automobile market and constantly develops with the latest technology. The world is plugging into electric vehicles, and so is India, but problems come with evolving changes. In the Indian EV space, a growing need to develop the requisite infrastructure to complement the plying of such vehicles on the road was seen. The government laid out various schemes and policies to provide impetus to the EV market, both from the demand and supply sides. 

One of the biggest problems that needed addressing was the lack of public charging facilities for such vehicles and the long charging times. In her budget speech, the finance minister addressed the issue of confinement of space in urban cities for setting up charging stations at scale. A battery swapping policy will be brought out to tackle this issue, which will enable the vehicles to swap out their drained battery for a charged one at the charging station. This was not possible until now because of the lack of standards in the industry that did not allow the interoperability of batteries and other auto components. The minister further mentioned that standards will be set to promote the interoperability of these components.

She also said that the private sector will be encouraged to develop sustainable and innovative business models for Battery or Energy as a Service. All of this is expected to strengthen the whole ecosystem of the EV industry, which will spur the demand for green vehicles. With the transport sector being such a significant contributor to CO2 emissions, the need for a shift to electric is now. These announcements in the budget will help develop the EV infrastructure in the country and increase the use of EVs in public transportation.

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