EVs will cost same as petrol cars in 2-years: Gadkari
What's the story
Union Minister for Road Transport and Highways, Nitin Gadkari, has projected that the prices of electric vehicles (EVs) in India will match those of petrol and diesel cars within two years. He made this statement at the 64th annual session of the Automotive Component Manufacturers Association of India (ACMA). Gadkari is a known advocate for electric mobility and has been promoting it for over a decade.
Industry shift
Gadkari recalls initial skepticism toward EVs
Gadkari recalled the initial skepticism he faced from major automobile manufacturers, when he first started advocating for EVs. "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," he said. This statement highlights a significant shift in the industry's perspective on electric mobility over the past decade.
CSR appeal
Auto firms urged to support road safety initiatives
During his address, Gadkari also requested automobile companies to contribute to road safety initiatives via their corporate social responsibility (CSR) programs. He emphasized that road safety is a significant concern for his ministry, with ill-designed and engineered roads being one of the leading causes of accidents in India. This appeal underscores the minister's commitment to improving road conditions and reducing accident rates nationwide.
Incentive stance
Gadkari open to additional incentives for EVs
Gadkari clarified his stance on offering extra subsidies or incentives for EVs. He stated, "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." However, he also suggested that such incentives may not be necessary after two years, as the price of EVs is tipped to align with that of petrol and diesel vehicles by then.