EV Stocks rise: Battery swapping policy, interoperability standard to be formulated for e-vehicles

EV Stocks: Electric Car Charging Station
Electric Car Charging Station (Image: Canva)

In budget 2022, the Finance Minister said for electric vehicles that special zones for electronic vehicles will be made in the new urban planning for public transport.

Due to difficulties in the expansion of the EV charging station network, the government of India will now formulate a formal policy for battery swapping which will lead to battery swapping and promotion of battery as a service and energy as a service.

Standards for battery interoperability will also be set in 2022.

After this announcement, the stock price of Exide Industries Limited has seen a 1% rise immediately and Amara Raja Batteries Limited has also seen a rise of more than 1%.

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