Will EV Prices Match Petrol Vehicles Soon?
Click to start listening
Synopsis
In a significant announcement, Union Minister Nitin Gadkari predicts that electric vehicle prices in India will equal those of petrol vehicles within months. This shift is crucial for economic relief and environmental sustainability. The government aims to elevate India’s automobile sector to global prominence while fostering innovation in green energy solutions.
Key Takeaways
- EV prices are projected to be on par with petrol vehicles soon.
- The government aims to make India's automobile industry the largest globally.
- Farmers contribute significantly to energy security through ethanol production.
- Hydrogen highways are being developed to support green transportation.
- Reducing crude oil imports is critical for India's economy.
New Delhi, Oct 6 (NationPress) Union Minister of Road Transport and Highways, Nitin Gadkari, announced on Monday that the pricing of electric vehicles (EVs) in India is anticipated to be on par with petrol vehicles within a timeframe of four to six months, as the government champions the broader adoption of clean mobility.
During his address at the FICCI Higher Education Summit, he emphasized that India’s yearly fuel import expenditure of Rs 22 lakh crore poses both an economic strain and an environmental hurdle, rendering a transition to green energy essential for the nation's advancement.
Gadkari also stated that the government aspires to establish India’s automobile sector as the largest globally within the next five years. Upon assuming his role as transport minister, the industry was valued at Rs 14 lakh crore, which has now surged to Rs 22 lakh crore.
At present, the US automobile industry is valued at Rs 78 lakh crore, followed by China at Rs 47 lakh crore, with India ranking third at Rs 22 lakh crore, he noted.
The minister acknowledged the significant contribution of farmers in this transition, revealing that they have generated an additional Rs 45,000 crore by producing ethanol from corn, thus enhancing the nation's energy security and diminishing dependence on fossil fuels.
Last month, Gadkari inaugurated India’s inaugural “hydrogen highways”, propelling the nation’s green hydrogen initiatives forward.
This initiative includes the establishment of hydrogen fueling stations along crucial national highway routes to facilitate long-distance hydrogen-powered transportation.
The future fuel is hydrogen, and we have commenced the first extensive hydrogen truck trials in history. A budget allocation of Rs 500 crore has been approved for five consortia across ten routes, involving 37 vehicles, Gadkari remarked during the event.
These trials will be bolstered by the creation of nine hydrogen refueling stations. He further stated that these highways will be India’s first hydrogen corridors, laying the groundwork for long-distance, eco-friendly transportation.
He stressed the urgency for India to reduce its dependence on crude oil imports, which currently account for 87% of demand and cost the nation nearly Rs 22 lakh crore annually.
Point of View
The government's commitment to transitioning to electric vehicles and green energy demonstrates a forward-thinking approach that aligns with national interests. This strategic move towards cleaner mobility is essential for reducing reliance on fossil fuels while bolstering domestic industries.
NationPress
06/10/2025
Frequently Asked Questions
When will EV prices match petrol vehicle prices in India?
According to Union Minister Nitin Gadkari, electric vehicle prices in India are expected to align with petrol vehicle prices within the next four to six months.
What is the current size of India's automobile industry?
As of now, India's automobile industry is valued at Rs 22 lakh crore, making it the third largest globally.
How is the government promoting cleaner energy?
The government is promoting cleaner energy through various initiatives, including the development of hydrogen highways and encouraging ethanol production from corn by farmers.
What is the significance of hydrogen highways?
Hydrogen highways are crucial for establishing a framework for long-distance clean transportation, supporting the use of hydrogen-powered vehicles.
What percentage of India's oil demand is met by imports?
Currently, about 87% of India's crude oil demand is met through imports.
