Centre plans 'battery passport' to boost EV safety, quality & exports
NEW DELHI: In a move that will help owners of
electric vehicles
(EVs) get precise details of the batteries being used, India will soon have its own "Battery Passport" regime. Under the system, the specifications of every battery, including its origin, performance, composition, end of life and the entire supply cycle will be captured digitally and embedded in a QR code.
Niti Aayog
has started deliberations with ministries and govt departments on the proposed framework, sources said. Officials highlighted that a battery passport serves as an Aadhaar identity of sorts, with every battery having a unique ID that provides all information on the product.
The initiative will not only improve safety and quality standards but also accelerate export of EVs from India. Significantly, India is offering incentives to global EV players to set up plants and export their vehicles from India.
It will also be crucial when govt rolls out a battery swapping policy for vehicles, allowing owners to access details of batteries by scanning the QR code printed on them.
The need for such a regime was first felt after a series of fire incidents involving electric two-wheelers and cars. Industry insiders said there had been instances of companies importing battery cells of different vintages and using them as part of the same modules.
"When cells made in different years are joined together, there is more load on new cells, as the older ones are closer to their expiry date. Such a module impacts performance and can be a safety hazard," said a source.
Officials privy to govt's plan said once the battery passport system is implemented, it will be possible to ensure that cells in any battery are manufactured in the same year. Through it, users will get to know about the lifecycle and performance of batteries, which is key considering they account for nearly 40% of the costs of EVs, an official said.
A source said, "This move will help achieve three major goals: trade (export of electric vehicles), safety and quality".
The European Union in 2023 enacted the Battery Regulation making it mandatory for every industrial or EV battery in EU with a capacity of over 2 kWh to have a battery passport. It will come into force on Feb 1, 2027. The battery passports will require inputs from mining and refining companies, cell and battery producers, vehicle brands, and battery servicing, refurbishing, and recycling companies.
The EU rules specify that the battery passport must contain all information, including unique identifier, basic characteristics of the battery including type and model, updated statistics on performance and durability, and carbon footprint specific to the manufacturing site and batch of batteries. This information will need to be selectively shared with three groups: the general public, regulatory bodies, and battery service and end-of-life processors.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
43 minutes ago
- Economic Times
Wall Street edges lower as investors look for tariff clarity
U.S. stocks experienced a mixed session on Tuesday as investors reacted to President Trump's latest tariff threats, creating uncertainty in the market. The S&P 500 and Nasdaq fluctuated, while the Dow closed lower. Energy stocks gained, but consumer staples and utilities declined. Investors are awaiting the release of the Fed's meeting minutes for further direction. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The S&P 500 ended Tuesday's choppy session slightly lower as investors waited for clarity on U.S. trade policy after President Donald Trump's latest tariff threats dampened hopes around talks with some trade partners. Wall Street equities had sold off sharply on Monday after Trump warned of sweeping new tariffs on goods from key trading partners such as Japan and South Korea and a range of smaller countries starting in moves in U.S. indexes were less pronounced than in the previous session but the benchmark S&P 500 and the tech-heavy Nasdaq spent the session flitting between red and green as investors sought direction from tariff headlines. Trump appeared to broaden his global trade war with the announcement on Tuesday that he would put a 50% tariff on imported copper while he said that long-threatened levies on semiconductors and pharmaceuticals were coming U.S. president said trade talks have been going well with the European Union and China but added that he was only days away from sending a tariff letter to the EU."It's almost like markets are waiting to exhale," while investors wait for more tariff news , said Carol Schleif, chief market strategist at BMO Private Wealth in Minneapolis, Minnesota."The fact that markets are holding in pretty tight, still just an eyelash away from all-time highs, shows investors are willing to give headlines the benefit of the doubt," she said. And while investors wait for the second-quarter earnings season to begin in mid-July, they are likely relieved by the passage into law last week of the U.S. government's spending plan, including some business-friendly tax policies, according to Dow Jones Industrial Average fell 165.60 points, or 0.37%, to 44,240.76, the S&P 500 lost 4.46 points, or 0.07%, to 6,225.52 and the Nasdaq Composite gained 5.95 points, or 0.03%, to 20, the S&P 500's 11 major industry groups, only five showed any gains. The energy index had the biggest advance, finishing up 2.72%, while the more defensive consumer staples and utilities sectors both fell more than 1% on the investors were wary of making big moves in larger stocks, the Russell 2000 small-cap index outperformed with a 0.66% gain. The market's cautious reaction to trade headlines contrasted with the wild volatility that was unleashed after Trump's April 2 "Liberation Day" tariff announcements, which pushed the Nasdaq down sharply to confirm a bear market and sent the Dow and the S&P 500 into a correction. Since then, Wall Street has rebounded to regain lost ground, with the Nasdaq and the S&P 500 powering to fresh record highs last week, as a solid labor market report helped ease fears of a recession. BofA Global Research and Goldman Sachs raised their year-end targets for the S&P 500 index, broadly driven by reduced policy uncertainty, resilient corporate earnings and potential interest rate of the Fed's June rate-setting meeting are scheduled for release on Wednesday, potentially providing more clarity on when the central bank might resume its policy-easing cycle. In mega-cap shares, Tesla gained 1.3% after its stock recorded its steepest single-day fall in roughly a month on Monday. In other individual stocks, U.S. copper miner Freeport-McMoRan appeared to benefit from the idea of steep import tariffs on the metal, with the stock ending up 2.5%. Moderna was the S&P 500's biggest percentage gainer, jumping 8.8% after leading medical organizations filed a lawsuit against U.S. Health Secretary Robert F. Kennedy Jr. and Department of Health and Human Services, arguing that current COVID-19 vaccine policies pose a threat to public health. Shares of solar stocks fell after Trump on Monday directed federal agencies to strengthen provisions in the One Big Beautiful Bill Act that repeal or modify tax credits for solar and wind energy sank 11.4% while Enphase Energy lost 3.6% and SolarEdge Technologies dropped 1%.Advancing issues outnumbered decliners by a 1.51-to-1 ratio on the NYSE, where there were 156 new highs and 25 new the Nasdaq, 2,797 stocks rose and 1,669 fell as advancing issues outnumbered decliners by a 1.68-to-1 S&P 500 posted 17 new 52-week highs and 4 new lows while the Nasdaq Composite recorded 83 new highs and 51 new U.S. exchanges 17.03 billion shares changed hands compared with the 18.31 billion moving average for the last 20 sessions.
Time of India
44 minutes ago
- Time of India
Oil prices ease from two-week highs as investors await tariff clarity
Oil prices edged slightly lower on Wednesday after rising to two-week highs in the previous session, as investors were watching new developments on U.S. tariffs and trying to gauge their impact. Brent crude futures were down 20 cents, or 0.3%, at $69.95 a barrel by 0121 GMT. U.S. West Texas Intermediate crude fell 21 cents, or 0.4%, to $68.12 a barrel. U.S. President Donald Trump's latest tariff delay provided some hope to major trade partners Japan, South Korea and the European Union that deals to ease duties could still be reached, while bewildering some smaller exporters such as South Africa and leaving companies with no clarity on the path forward. Trump pushed back Wednesday's previous deadline to August 1, a date he said on Tuesday was final, declaring: "No extensions will be granted." He also said he would impose a 50% tariff on imported copper and soon introduce long-threatened levies on semiconductors and pharmaceuticals, broadening his trade war that has rattled markets worldwide. Live Events While the tariffs have prompted worries of oil demand destruction , strong travel demand for the July 4th weekend buoyed hopes. A record 72.2 million Americans were projected to travel more than 50 miles (80 km) for Fourth of July vacations, data from travel group AAA showed last week. On the supply side, the U.S. will produce less oil in 2025 than previously expected as declining oil prices have prompted U.S. producers to slow activity this year, the Energy Information Administration forecast on Tuesday in a monthly report. The world's largest oil producer is projected to produce 13.37 million barrels per day of oil in 2025, versus last month's forecast of 13.42 million bpd, the EIA said in its short-term energy outlook report. In 2026, the U.S. will produce 13.37 million bpd, in line with the previous forecast. OPEC+ oil producers are, on the other hand, set to approve another big output boost for September as they complete both the unwinding of voluntary production cuts by eight members and the United Arab Emirates' move to a larger quota, five sources said. On Saturday, the group approved a 548,000 bpd jump for August. However, the actual output increase has been smaller than the announced levels so far and most of the supply has been from Saudi Arabia, analysts said. Meanwhile, geopolitical tensions remained, providing a floor for prices. Four seafarers on the Liberian-flagged, Greek-operated bulk carrier Eternity C were killed in a drone and speedboat attack off Yemen, an official with knowledge of the issue said on Tuesday, the second incident in a day after months of calm.
Time of India
an hour ago
- Time of India
Wall Street edges lower as investors look for tariff clarity
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The S&P 500 ended Tuesday's choppy session slightly lower as investors waited for clarity on U.S. trade policy after President Donald Trump's latest tariff threats dampened hopes around talks with some trade partners. Wall Street equities had sold off sharply on Monday after Trump warned of sweeping new tariffs on goods from key trading partners such as Japan and South Korea and a range of smaller countries starting in moves in U.S. indexes were less pronounced than in the previous session but the benchmark S&P 500 and the tech-heavy Nasdaq spent the session flitting between red and green as investors sought direction from tariff headlines. Trump appeared to broaden his global trade war with the announcement on Tuesday that he would put a 50% tariff on imported copper while he said that long-threatened levies on semiconductors and pharmaceuticals were coming U.S. president said trade talks have been going well with the European Union and China but added that he was only days away from sending a tariff letter to the EU."It's almost like markets are waiting to exhale," while investors wait for more tariff news , said Carol Schleif, chief market strategist at BMO Private Wealth in Minneapolis, Minnesota."The fact that markets are holding in pretty tight, still just an eyelash away from all-time highs, shows investors are willing to give headlines the benefit of the doubt," she said. And while investors wait for the second-quarter earnings season to begin in mid-July, they are likely relieved by the passage into law last week of the U.S. government's spending plan, including some business-friendly tax policies, according to Dow Jones Industrial Average fell 165.60 points, or 0.37%, to 44,240.76, the S&P 500 lost 4.46 points, or 0.07%, to 6,225.52 and the Nasdaq Composite gained 5.95 points, or 0.03%, to 20, the S&P 500's 11 major industry groups, only five showed any gains. The energy index had the biggest advance, finishing up 2.72%, while the more defensive consumer staples and utilities sectors both fell more than 1% on the investors were wary of making big moves in larger stocks, the Russell 2000 small-cap index outperformed with a 0.66% gain. The market's cautious reaction to trade headlines contrasted with the wild volatility that was unleashed after Trump's April 2 "Liberation Day" tariff announcements, which pushed the Nasdaq down sharply to confirm a bear market and sent the Dow and the S&P 500 into a correction. Since then, Wall Street has rebounded to regain lost ground, with the Nasdaq and the S&P 500 powering to fresh record highs last week, as a solid labor market report helped ease fears of a recession. BofA Global Research and Goldman Sachs raised their year-end targets for the S&P 500 index, broadly driven by reduced policy uncertainty, resilient corporate earnings and potential interest rate of the Fed's June rate-setting meeting are scheduled for release on Wednesday, potentially providing more clarity on when the central bank might resume its policy-easing cycle. In mega-cap shares, Tesla gained 1.3% after its stock recorded its steepest single-day fall in roughly a month on Monday. In other individual stocks, U.S. copper miner Freeport-McMoRan appeared to benefit from the idea of steep import tariffs on the metal, with the stock ending up 2.5%. Moderna was the S&P 500's biggest percentage gainer, jumping 8.8% after leading medical organizations filed a lawsuit against U.S. Health Secretary Robert F. Kennedy Jr. and Department of Health and Human Services, arguing that current COVID-19 vaccine policies pose a threat to public health. Shares of solar stocks fell after Trump on Monday directed federal agencies to strengthen provisions in the One Big Beautiful Bill Act that repeal or modify tax credits for solar and wind energy sank 11.4% while Enphase Energy lost 3.6% and SolarEdge Technologies dropped 1%.Advancing issues outnumbered decliners by a 1.51-to-1 ratio on the NYSE, where there were 156 new highs and 25 new the Nasdaq, 2,797 stocks rose and 1,669 fell as advancing issues outnumbered decliners by a 1.68-to-1 S&P 500 posted 17 new 52-week highs and 4 new lows while the Nasdaq Composite recorded 83 new highs and 51 new U.S. exchanges 17.03 billion shares changed hands compared with the 18.31 billion moving average for the last 20 sessions.
