During the COP26 summit in Glasgow, India pledged to reduce carbon emissions by 45%, and take our non-fossil fuels to 500 GW by 2030 and meet 50% of our renewable energy needs by 2030, and finally reached the Net Absent Target by 2070. The road transport sector is one of the major contributors to CO2 emissions and accounts for one-third of the emissions.
In order to decarbonize the transportation industry, switching to cleaning, which is led by electric vehicles, is very important. Electronic travel represents a viable option to meet these obligations, while being loaded with new business solutions, relevant technologies, and support infrastructure. A few supportive measures have been initiated, such as the Accelerated Acceptance and Manufacturing of Electric Vehicles (Hybrid) in India (FAME) I and II, and the Production Linked Incentive (PLI) of the National Advanced Cell Storage System (ACC) Battery Storage (NPACC) ), to increase the production capacity of native batteries. Regional governments are developing co-operative policies to promote EV access.
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The Indian e-mobility revolution is led by two-wheeled car parts (2W) and three-wheeler (3W). 2Ws make up 70-80% of all private cars, while 3Ws play a key role in connecting the last mile to cities. Although the previous cost of EVs is generally higher than that of its internal combustion engine (ICE) counterparts, these are solved by lower operating and maintenance costs over its lifetime which has brought the total cost of ownership of electric vehicles to the equivalent of ICE vehicles.
Battery replacement is another method that involves replacing discarded batteries with rechargeable batteries. Battery replacement disconnects the car and fuel (Battery in this case) and reduces the car’s previous cost. Battery replacement is widely used in small cars such as 2 and 3 wheels with small batteries that are easy to replace compared to other car segments where the same can be used for operation.
Changing the battery offers three important advantages in terms of charging: time, space, and cost savings, as long as each replacement battery is used efficiently. In addition, Battery Switch provides a platform for innovative and sustainable business models such as ‘Battery As A Service’.Considering the complexity of the space in urban areas to set up high-quality charging stations, the Honorable Minister of Finance in his 2022-23 Budget speech announced that the Government of India will introduce battery replacement policy and co-operative standards to improve the country’s efficiency EV Ecosystem.
NITI Aayog held a dialogue between ministers to formulate a strong and comprehensive battery replacement policy in February 2022. NITI Aayog also held a comprehensive stakeholder discussion that preceded the framework and a broad stakeholder framework representing Battery Transmission Equipment, Battery Manufacturers, Automotive Institutions, Equipment CSOs, Think Tanks and other professionals.
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