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South Asia News

Cost of EVs in India will drop to the level of petrol vehicles: Nitin Gadkari

Image credit: IndiaTV News

The Central government of India is working on measures to increase the sales of electric vehicles and in the next two years the cost of EVs in India will drop to the level of petrol vehicles, Minister of Road Transport and Highways of India, Nitin Gadkari said.

Addressing virtually ‘TimesNow Summit’ Gadkari further said that to reduce import of fossil fuel, the government is encouraging use of alternate fuel like ethanol and CNG.

“We import 80 percent plus of our petrol and diesel requirements. We import petrol and diesel worth Rs 8 lakh crore. If we continue to depend on fossil fuels then in the next five years, our import bill will rise to Rs 25 lakh crore,” he said.

The Road Transport and Highways minister observed that due to technological development, the cost of electric vehicles will drop in India, an ET Government report added.

“We are working to increase electric vehicles sales and in the next two years, your vehicle will be electric,” Gadkari pointed out.The minister said that if fuel cost of a petrol vehicle per month is Rs 12,000-15,000, then in case of electric vehicle, it will be Rs 2,000.

“In the next two years, the cost of electric vehicles in India will drop to the level of petrol vehicles,” he said.With an aim to promote eco-friendly vehicles, the Government of India had launched the FAME India scheme (Faster Adoption and Manufacturing of (Strong) Hybrid and Electric Vehicles in India) in 2015.

W.Media is hosting its first physical event after two years in association with CIO Klub.

“Mumbai Cloud & Datacenter Convention & Awards 2021” will take place in St. Regis Mumbai on the 25th of November from 8 am to 6 pm IST.

Technology leaders will be a part of this event to share insights on the cloud and data centre scenario in South Asia.

25th November 2021 || St. Regis Mumbai

LET’S MEET IN PERSON!
Since 2020, the world as we know has changed! So has the world of Data Centres!

W.Media brings the 1st Physical (In-Person) Conference for DC Industry and its stakeholders! This Physical Conference will take you through the pressing reformation of Datacentres, Cloud & Mitigating Cybersecurity. Learn how all these are changing the world around you.
Be a part of this change. Reserve your spot now.

Know More about the event: Mumbai CDC Convention & Awards 2021.

Publish on W.Media
  • November 18, 2021
Author Info - W.Media
Anuradha Nagar
Anuradha Nagar
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