NITI Aayog Releases Draft Battery Swapping Policy

NITI Aayog has released a Draft Battery Swapping Policy for Stakeholder Comments. During the COP26 summit in Glasgow, India committed to reduce carbon emission intensity by 45%, and take non-fossil energy capacity to 500 GW by 2030 and meet 50% of energy requirements from renewable energy by 2030, and finally achieve the Net Zero target by 2070. The road transport sector is one of the major contributors to CO2 emissions and accords to one third of the particulate matter emissions.To decarbonize the transport sector, transition to clean mobility, led by electric vehicles, is paramount. Electric mobility represents a viable option to meet these commitments, while packed with innovative business solutions, appropriate technology, and support infrastructure. Several supporting initiatives have been implemented, such as the Faster Adoption and Manufacturing of Electric (Hybrid) Vehicles in India (FAME) I and II, and the Production Linked Incentive (PLI) for National Programme on Advanced Cell (ACC) Battery Storage (NPACC), to boost indigenous battery manufacturing capacity. State governments are developing complementary policies to promote EV adoption. India's e-mobility revolution is led by the two-wheeler (2W) and three-wheeler (3W) vehicle segments. 2Ws account for 70-80% of all private vehicles, whereas 3Ws play a critical role for last mile connectivity in cities.

Powered by Capital Market - Live News