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Union minister Nitin Gadkari says that Electric Vehicle Cost and Petrol Vehicle Price will be Same in Two Years

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Even while the Centre and state governments continue to encourage vehicle owners to use electric cars, the EV market in India remains a very minor fraction of the country’s overall motor vehicle industry. One of the primary reasons for this is the high cost of EVs, particularly electric cars. Now, Union Road Transport and Highways Minister Nitin Gadkari has said that India is only one EV revolution away from turning things around and lowering the cost of electric vehicles to the same level as petrol and diesel vehicles.

Electric Vehicle Cost and Petrol Vehicle Price will be Same in Two Years: Nitin Gadkari

Gadkari addressed the annual session of the Indian Chamber of Commerce and FY21 AGM, which was hosted digitally. “Within two years, the cost of EVs will come down to a level that will be at par with their petrol variants,” he said and added that the government is working to expand the EV charging facilities.

“We are setting up 600 EV charging points across major highways by 2023. The government also wants to ensure that the charging stations are powered by renewable sources like solar or wind electricity,” he said.

Gadkari said that “The cost of EVs is high because their number is less.” He said India is anticipating an EV revolution, with 250 startup businesses engaged in cost-effective EV technology creation. Furthermore, major automakers have joined the battle to cut the cost of EV production. The GST is only 5% on EVs and the cost of lithium-ion batteries is also declining.

Gadkari also believes that the economic analysis of EVs in India is quite favourable, owing to the cheap per-kilometre cost and that electric car sales do not require an artificial push. “The cost of [a] petrol-powered car per kilometre is Rs 10 per km, diesel is Rs 7 per km, and electric is only Re 1 per km,” Gadkari said.

Addressing the virtual event, the minister emphasized the use of alternative fuels such as ethanol and compressed natural gas (CNG) in order to lessen reliance on traditional fuels like gasoline and diesel.

At the same time, he reaffirmed that the introduction of electric vehicles will not come at the expense of the registration of newer vehicles having internal combustion engines. “We are encouraging electric vehicles and use of alternative fuels,” he added.

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Automobile

Improved version of Hyundai Creta launched in Indian market: Check it out here

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Hyundai India launched the much-awaited Creta Knight Edition in the country at a starting price of Rs 13.51 lakh (ex-showroom, all-India). This new variant is available in both petrol and diesel engine options and can be had either with a manual or an automatic transmission unit. To read more about the Creta Knight Edition, click here. In addition to this, the company has also introduced a model-year update for the Hyundai Creta with new feature additions.

The 2022 Hyundai Creta is now available in a new Denim Blue colour option and the Highline TPMS is now standard across all variants. The SX (O) trim now also gets a glossy black centre console. Furthermore, the company will offer the iMT option on the 1.5-litre petrol ‘S’ variant to further expand choices for the customers. The new S+ variant powered by a 1.4-litre T-GDi petrol engine with 7DCT now gets an additional set of features, such as –

– Smart panoramic sunroof

– 16-inch black alloy wheels

– Smartphone wireless charger

– Rear Disc Brakes

– Electronic Stability Control (ESC)

– Vehicle Stability Management (VSM)

– Hill start assist control (HAC)

– Paddle shifters

– Metal pedals

– Electric and auto-folding ORVMs

– Power window auto up/down

Mechanically, the SUV continues to be powered by the existing petrol and diesel engine options.

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