EV & Conventional Will Carry Identical Price Tags In 2 Years in India

Gadkari wants to make India a hub for manufacturing electric vehicles

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According to the Union Minister, a high price of an electric vehicle is the result of high battery costs.
Nitin Gadkari, Union Minister for Road Transport, says the price of an electric vehicle will be the same as that of a car that consumes petroleum fuel in two years.

In a webinar on Sunday, the minister said electric vehicles have a much lower running cost than petrol vehicles.
Gadkari claimed that electric mobility is gaining momentum in the country, and the cost effectiveness of electric vehicles would attract people to them.

Gadkari said the cost of Lithium-ion batteries has pushed the price of electric vehicles higher than those powered by internal combustion engines (ICEs).


According to him, electric cars will cost less as a result of battery costs declining, adding that the Goods and Services Tax (GST) on EV is only 5 percent in India, whereas petrol vehicles are taxed at up to 48 percent.

In India, electric vehicle owners have their own chargers, according to the Union Minister. Lithium-ion batteries are sourced from local producers in India to the tune of 81 percent, he said. According to him, the development of alternative battery technology is expected to lead to a breakthrough sooner rather than later.

Gadkari was also asked about developing charging infrastructure for electric vehicles, to which he responded that many charging stations would be built in India in the next two years.

In addition to stating that the process for installing 350 charging points at roadside and market areas has already begun, he said that fuel outlets have also been approved to install charging stations.

By 2030, the Indian government wants 80 percent of 2- and 3-wheelers, 70 percent of commercial cars, and 40 percent of buses to be electric.

Gadkari said that the electricity needed to charge these vehicles will be generated by renewable energy sources such as solar and biomass.ev

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