Lending body proposes battery number inclusion in EV RCs – Newz9

BENGALURU: Fraudsters are shopping for electrical autos (EVs) on finance, promoting the car’s new battery, which is usually greater than 50% of the price of the car, by putting in a used one, defaulting on funds, and surrendering the car.
This is significantly impacting the enterprise of financiers, because the car they obtain is of significantly decrease worth than the one they financed.
So, the Finance Industry Development Councila consultant body for non-financial institution lenders in the nation, has requested Union transport minister Nitin Gadkari to incorporate battery number in the registration certificates of electrical autos.
This, amongst different cures, had been a part of the letter despatched to the ministry as suggestions to unravel challenges being confronted by financiers of EVs, as per the letter reviewed by TOI.
Addition of battery number in the registration particulars and database of the EVs, in case of autos fitted with fastened batteries, identical to the chassis number and engine number will assist forestall the described unauthorized sale, FDIC mentioned.
“If there is a space constraint in the smart card, then in the case of electric vehicles battery number should be made mandatory instead of the engine number, which is irrelevant in the case of electric vehicles,” the letter mentioned.
Asked in regards to the letter, FIDC director basic Mahesh Thakkar mentioned there was no replace to share and that the group is seeking to meet with the transport ministry someday in January to debate the suggestions.