EVs To Cost The Same As Petrol Vehicles In 2 Years, Says Gadkari


This comes as the government introduces various schemes and incentives to speed up the shift to electric mobility in the country

The upfront cost of buying electric vehicles and petrol vehicles are likely to be at par in the next two years, as per Union transport minister Nitin Gadkari.

“Within two years, the cost of EVs will come down to a level that will be at par with their petrol variants. Already GST is only 5 percent on EVs and the cost of lithium ion batteries is also declining. Besides, the government has already framed a policy allowing petrol pumps to set up EV charging stations. In two years there will be a lot charging points across India as well,” Gadkari said at a webinar, organised by The Sustainability Foundation, Denmark, on accelerating the phasing out of coal and switching to electric vehicles.

This comes as the government introduces various schemes and incentives to speed up the shift to electric mobility in the country, mainly in the purview of meeting their target of 30 per cent of EV sales penetration for private cars, 70 percent for commercial vehicles, 40 percent for buses and 80 percent for two- and three-wheelers by 2030.

“Electric mobility is gaining good momentum in the country. There is no artificial push required. The per kilometre cost of petrol-based vehicle is Rs 10, that of diesel is Rs 7/km, whereas for EVs, it is Rs 1/km,” he said.

At present, only about 2-3 e-car variants cost below ₹15 lakh in the country. The cost of two-wheelers and three-wheelers have already almost come at par with the existing petrol after factoring in the subsidies.

Gadkari further said that a potential pilot project is being planned to install an electric highway system in the Delhi-Mumbai Expressway which can be electrified using abundant solar power energy in the region. Apart from this, the government also plans to set up charging points at fuel stations.

The National Highways Authority of India (NHAI) has chalked out a plan to install at least 700 EV charging stations across its major highways in the country by 2023. These will be spread across a range of 40-60kms.

The Union minister said that the central government is also focusing on ensuring that EV charging stations get their electricity from renewable sources. The government will also soon launch the country’s fully electric tractor, the minister added.

Electric two-wheeler and electric car sales have seen a rise of 145 percent and 190 per cent respectively when compared to the pre-Covid period, he said. India has the potential to become an exporter in these two segments of EVs, the minister added.


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