Union Minister for Road Transport and Highways, Nitin Gadkari, has announced that the cost of electric vehicles (EVs) in India is expected to match that of petrol and diesel vehicles within the next two years.
Speaking at the 64th ACMA Annual Session, Gadkari, a strong advocate for electric mobility, recounted the initial scepticism he encountered from major automobile manufacturers a decade ago.
“Ten years ago, when I was pushing for EVs, automobile giants in India didn’t take me seriously. Now, they tell me they may have missed the bus,” Gadkari noted, while addressing the shift in the industry’s view on EVs.
In his address, Gadkari also encouraged automobile companies to support road safety initiatives through their corporate social responsibility (CSR) programs. He stressed that road safety is a major concern for his ministry, attributing many accidents to poorly designed and engineered roads.
Additionally, Gadkari expressed his openness to additional subsidies or incentives for electric vehicles, should the Finance Ministry or Ministry of Industries decide to provide them. “I am not against any additional subsidy or incentive for electric vehicles. If the Finance Minister and Industries Minister want to give more, I have no problem,” he stated.
However, he mentioned that such incentives might become unnecessary in about two years when EV costs are projected to become comparable to those of petrol and diesel vehicles. Despite this, Gadkari reaffirmed his willingness to support further incentives during this transitional period.
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Cost of EVs to be same as petrol, diesel vehicles within two years, says Transport Minister Gadkari
