EV prices to be as good as ICE vehicles within a year: Nitin Gadkari

The prices of electric vehicles will soon be at par with the cost of vehicles with internal combustion engines within one year, stated Road Transport and Highways Minister Nitin Gadkari recently. Electric vehicles are expensive compared to conventional fuel vehicles due to the batteries which can fall anywhere between 35 per cent to 40 per cent of the price of a vehicle.

By: HT Auto Desk
| Updated on: 18 Jun 2022, 13:53 PM
Follow us on:
Follow us on:
File photo used for representational purposes only. (REUTERS)
File photo used for representational purposes only.

Currently, an entry-level electric vehicle in the passenger vehicle segment can cost one almost two times that of a comparable conventional engine version. In the two-wheeler segment, the EVs cost around 1.5 times when compared to a petrol or diesel two-wheeler. “I am trying...within one year, the cost of electric vehicles will be equivalent to the cost of petrol vehicles in the country and we will save money spent on fossil fuels," said Gadkari.

Also Read : Hyundai eyes compact affordable EV for India: Report )

A recently conducted study also shared that sales of electric vehicles in the domestic market will grow by more than 10 million by 2030. It suggested that there are chances of an overall adoption of more than 30 per cent across different categories of EVs. The study highlighted the point that for the country to achieve more than 30 per cent of EVs, it will need around 800 GWh of batteries by 2030. India also has plans to produce lithium-ion cells within the country.

Also Read : Tigor EV comprises 25% of the sedan's FY22 sales; every 6th Nexon sold is an EV )

Along with highlighting the benefits of electric vehicles, the minister also shared that the government is also trying to promote and encourage the usage of ethanol instead of petrol and diesel. Gadkari also further added that waterways are a cheaper mode of transportation than roads and it is going to come up in a big way in the coming days.

(With inputs from PTI)

First Published Date: 18 Jun 2022, 13:53 PM IST
Shopping Bag Shop Now
5% OFF
Godrej aer O – Hanging Car Air Freshener | Car Accessories | Cool Aqua (7.5g)
Rs. 94 Rs. 99
70% OFF
VENO Portable High Power 2 in 1 Car Vacuum Cleaner | USB Rechargeable Wireless Handheld Car Vacuum Cleaner Traveling, Camping Reusable and Sustainable (2 in 1 Vacuum Cleaner)
Rs. 899 Rs. 2,999
2% OFF
Godrej aer O – Hanging Car Air Freshener | Car Accessories | Musk After Smoke (7.5g)
Rs. 97 Rs. 99
SHAYONAM Dent Removal Kit - Powerful Car Dent Repair Kit - Suction Cup Dent Puller Handle Lifter and Dent Repair Puller for Car Body Dent, Glass, Tiles and Mirror (Plastic)
Rs. 349

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city
By clicking "View Offers" you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city
Couldn't verify the OTP.
It's either expired or it's incorrect.