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Prices of electric vehicles (EVs) will be equal to those of petrol vehicles in the country within six months, Union Road Transport and Highways Minister Nitin Gadkari said on Wednesday.
Addressing the 32nd Convergence India and 10th Smart Cities India Expo, Gadkari further said the construction work of the 212-km Delhi-Dehradun access-controlled expressway will be complete in the next three months.
Gadkari has been one of the strongest proponents of EVs and alternate fuel vehicles in India since the past decade. EVs have been a subject of discussions among various factions of the automotive industry. Initially OEMs were hesitant towards this transition but now every major manufacturer in the PV and two-wheeler space have at least one EV offering in their lineup.
“Within six months, the cost of electric vehicles will be equivalent to the cost of petrol vehicles,” he said. The minister said the government’s policy is import substitute, cost-effectiveness, pollution-free and indigenous production.
To make India the third-largest economy, the country needs to improve its infrastructure sector, the Union minister said.Gadkari asserted that the future of the country’s economy is very good and the government is committed towards smart cities and smart transport. Gadkari emphasised on the need to encourage new technology and innovation to reduce cost of road construction.
Gadkari bullish on EVs
This isn’t the first time Gadkari has claimed the possible reduction in prices of EVs. Back during a public speech in Nagpur, Gadkari stated that the price of electric vehicles in India would be on par with petrol cars within two years (by 2025) due to advancements in battery technology and increasing domestic production. He highlighted that operational costs for EVs are significantly lower than petrol or diesel vehicles.
Not just initial purchasing cost but Gadkari has previously on a number of occasions said that running costs of EVs are significantly cheaper than those of ICEs. He has repeatedly emphasized that the running cost of an EV is about ₹1 per km, compared to ₹5-7 per km for petrol/diesel cars. He argued that despite the higher initial cost, the long-term savings on fuel make EVs more economical.
With inputs from PTI
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