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

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.

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