New Delhi, January
24, 2023: Sharing his
budget expectations, Siddharth Kabra, Co-Founder & CEO – VoltUp, said, “Battery
swapping attracts 18% GST while EV has a GST of 5%. I wish the Hon’ble Finance
Minister brings the battery swapping GST at par with EV to 5%. This will be a boon
for the price sensitive 3 wheeler and 2-wheeler market and its users.”
He further added, “I hope the Hon’ble Finance Minister considers
adding the battery swapping industry as a category to FAME policy to enable
robust battery production in the country and give a boost to Atmanirbhar
Bharat. As swapping requires a high deployment of batteries for being always
available and a dense swapping network, start-ups should be able to claim
benefits of FAME policies to make it far easier for the consumer.”
A Battery-as-a-Service (BaaS) platform, VoltUp offers a one-stop solution for
battery swapping of all electric 2&3 wheelers. Providing riders with smart
swappable batteries, VoltUp ensures a nil downtime to the users and zero
hassles for all battery related issues.
