Among other EV News in India, Union Minister Nitin Gadkari has now announced that the prices of electric vehicles (EVs) in India will match those of petrol-powered cars within the next six months. He attributed this price reduction to advancements in battery technology and increased domestic EV production. Speaking at an event, he emphasized the government’s commitment to promoting clean mobility and reducing the cost burden on consumers.
As per a report by PTI sharing light on the EV News in India, Gadkari stated that battery costs, which account for nearly 40% of an EV’s price, are declining rapidly due to new research and local manufacturing. The minister highlighted that India’s push for lithium-ion battery production and alternative technologies such as sodium-ion and solid-state batteries will significantly lower EV prices. He added that the government’s production-linked incentive (PLI) schemes and subsidies under the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) program are further accelerating this cost parity.
The minister reiterated the need to reduce dependence on fossil fuels and improve energy security. He noted that transitioning to electric mobility will cut down on fuel imports and also help lower carbon emissions. This will contribute to cleaner air in urban areas. The government is actively expanding EV charging infrastructure, encouraging the development of green hydrogen. In addition, it is promoting ethanol and biofuels to create a more sustainable transport ecosystem.
A Bright Future for EVs in India
Industry experts believe that achieving price parity between EVs and petrol vehicles will drive mass adoption. Lower costs will make EVs more accessible to consumers, increasing demand and pushing automakers to expand their electric portfolios. Companies like Tata, Mahindra, and Hyundai have already scaled EV production, anticipating a surge in sales once price gaps diminish.
The push for electric mobility aligns with India’s broader climate goals and commitments under the Paris Agreement. The government aims to have 30% of all vehicles on Indian roads running on electricity by 2030. To support this transition, authorities are focusing on expanding the EV charging network and enhancing battery-swapping infrastructure.
With falling battery costs, supportive policies, and growing infrastructure, India’s EV market is set for a major transformation. Stay tuned to Green Wheels India, to stay on top of this evolution.
