One of the four pillars of India's 2022 Budget announcements has been climate action, a broad push that includes everything from energy to mobility.
As part of that push, India's Finance Minister - Nirmala Sitharaman - announced the Modi government's plans to formulate a new policy focussed on battery swapping.
The new policy is an attempt to encourage the usage of electric vehicles, part of a larger plan to achieve the subcontinent's decarbonisation goals.
"Considering the constraint of space in urban areas for setting up charging stations, battery swapping policy will be brought out and interoperability standards will be formalised," Sitharaman said in her Budget speech.
Amara Raja Batteries and Exide Industries saw their shares rise 2% after the announcement.
As part of that push, India's Finance Minister - Nirmala Sitharaman - announced the Modi government's plans to formulate a new policy focussed on battery swapping.
The new policy is an attempt to encourage the usage of electric vehicles, part of a larger plan to achieve the subcontinent's decarbonisation goals.
"Considering the constraint of space in urban areas for setting up charging stations, battery swapping policy will be brought out and interoperability standards will be formalised," Sitharaman said in her Budget speech.
Amara Raja Batteries and Exide Industries saw their shares rise 2% after the announcement.
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