Will battery swapping solve EV charging woes; experts discuss
Finance Minister Nirmala Sitharaman announced the battery swapping policy and special mobility zones with zero fossil fuels in her budget speech. It will encourage private players to develop sustainable and innovative business models for battery swapping or 'battery as a service.' Will battery swapping really help India’s EV adoption and how the government will standardize batteries and connectors across OEM’s. CNBC-TV18’s spoke to Chetan Maini, Co-Founder and Chairman of SUN Mobility, Rajeev Singh, Partner and Automotive Leader at Deloitte India, Shamsher Dewan, Group Head and VP at ICRA and Amit Gupta, CEO of Yulu Bikes.
Finance Minister Nirmala Sitharaman announced the battery swapping policy and special mobility zones with zero fossil fuels in her budget speech. It will encourage private players to develop sustainable and innovative business models for battery swapping or 'battery as a service.' so what is battery swapping and how does it work?
Battery swapping or battery-as-a-service allows EV owners to replace the discharged batteries with charged ones at the swap stations. This will address the problem of setting up charging stations and also reduce range anxiety among drivers.
Further, battery leasing can help EV owners save the cost of purchasing a battery. The service is less time consuming and takes only a few minutes compared to charging at a battery station which could take hours. It also requires minimum infrastructure. Those were some arguments in support of battery swapping.
However, will battery swapping really help India’s EV adoption, and how the government will standardize batteries and connectors across OEM’s. The other key questions are, what are the immediate steps that can be taken to improve retail financing in the EV sector and how is the big rise in the number of new entrants going to impact the electric vehicle market? CNBC-TV18’s spoke to Chetan Maini, Co-Founder and Chairman of SUN Mobility, Rajeev Singh, Partner and Automotive Leader at Deloitte India, Shamsher Dewan, Group Head and VP at ICRA and Amit Gupta, CEO of Yulu Bikes.
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