Nitin Gadkari: EV Prices in India to Match Petrol Vehicles Within 6 Months

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Union Minister for Road Transport and Highways Nitin Gadkari has announced that electric vehicle (EV) prices in India are expected to match those of petrol-powered vehicles within the next four to six months. The minister made the statement during an industry event organized by the Federation of Indian Chambers of Commerce and Industry (FICCI).

Calling it a “turning point for India’s green mobility journey,” Gadkari said that the reduction in EV prices will make clean transport more accessible to consumers while reducing the country’s dependence on fossil fuels.

Cost Parity and Market Growth

According to Gadkari, advancements in battery manufacturing and government-backed incentives have significantly lowered the cost of EV production. As a result, the price gap between electric and conventional vehicles has been narrowing steadily.

“The cost of lithium-ion batteries has fallen by nearly 40% in the last two years,” Gadkari said. “With local battery manufacturing and government support, EVs will soon be priced at par with petrol vehicles.”

Industry experts believe that achieving cost parity will accelerate EV adoption in India, particularly in the two-wheeler and small car segments.

Government Initiatives and Infrastructure Push

The Indian government has been promoting electric mobility through various schemes such as FAME-II (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) and PLI (Production-Linked Incentive) programs for battery and EV manufacturing.

Gadkari also highlighted ongoing efforts to expand the country’s EV charging infrastructure, ensuring adequate coverage on highways and in major urban areas. “We are working to establish charging stations every 50 kilometers along national highways,” he said.

Environmental and Economic Benefits

The minister emphasized that the shift to EVs will help reduce India’s oil import bill and cut carbon emissions, supporting the country’s net-zero targets for 2070.

With falling battery costs, government incentives, and improved infrastructure, India’s electric mobility sector is poised for a significant expansion in the months ahead.