It has been an encouraging era for the EV industry for the past 5 years. MOVE- The Global mobility summit in 2018 led by Niti Aayog had helped electric mobility to gain momentum in India followed by the renewed FAME 2.0 launch in 2019 that further boosted the demand side incentive in India and the PLI and the release of 18,000 crores to the advanced chemistry cell.

While these are definitely initiatives that helped the EV ecosystem to gain momentum, as the ecosystem grows to the next level, the expected support also reaches a higher level. This budget the electric vehicle industry is anticipating to have sops for the EV ecosystem.

Along with this, the budget also must encourage the circular economy and enable the ecosystem to set up the recycling of the scrap and help find their place once again in the manufacturing of the vehicles. While the battery and swapping policy is already in place, the budget must focus on bringing standardisation at least in terms of the structure, lay out and other peripherals and connections of these battery packs to ensure mass production with less variations.