Industry leaders urge a technology-agnostic FAME 3 policy, emphasizing battery swapping incentives and infrastructure expansion to boost India’s EV ecosystem.
While India’s electric vehicle industry waits on the edge of its seat for the finalization of the FAME 3 scheme, the industry has underlined the importance of technology neutral approach for policy and corridors. Speaking at the event, Co-founder and Chairman of Sun Mobility Chetan Maini also urged the government to create a large incentive programme for battery swapping in an effort to make electric mobility a reality in the country.
Stressing on Battery Swapping and Infrastructure
Maini remarked that the opportunity to complement the development of several forms of transport in the system is the key to FAME 3’s effectiveness. He called for parity and cut in GST for battery swapping which could be hugely beneficial to the sector. In addition, Maini urged for a mass-scaled network expansion of public-private partnerships in regards to infrastructural development, especially in industries such as trucking which generated nearly half of India’s pollution.
Addressing Policy Ambiguities
Maini highlighted the fact that there are inconsistencies in existing policies pointing out that sometimes charging and swapping infrastructure are not equal. He proposed to make the policy the same on both technologies; he hoped that FAME 3 would address these issues and bring more synergy in EV development.
Sun Mobility’s Expansion Plans
Sun Mobility, which received $78 million from Indian Oil Corporation (IOC) recently, seems to be weaving a network of battery-swapping stations all over India. As part of the latest partnership agreed with IOC, the company plans to increase the monthly swaps figures to over 3.5 million compared to approximately 1.7 million at present, over the next three years, IOC is to invest $220 million. Also, Sun Mobility announced it will launch a new battery swapping technology for EVs – the first-of-its-kind globally, jointly with Bangalore-based electric bus maker, Veera Vahana.
Final Stages of FAME 3 Scheme Expected Soon
Information suggests that the FAME 3 scheme is expected to be firmed up in the next 10 to 15 days. The proposed outlay of ₹11,500 crore could include remuneration for buses, three-wheelers, two-wheelers and possibly new entries as electric trucks, tractors and charging stations.
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