EV subsidies no longer required: Union Minister Gadkari
3 months, 2 weeks ago

EV subsidies no longer required: Union Minister Gadkari

New Indian Express  

NEW DELHI: The Union Minister of Road and Transport, Nitin Gadkari, on Thursday said that there is no need for further subsidies to push electric vehicle adoption in the country. “Consumers are now choosing electric and compressed natural gas vehicles on their own and I do not think we need to provide much subsidy for electric vehicles…,” Gadkari said at BloombergNEF Summit in New Delhi. Still, after getting 5% GST, if someone is expecting subsidy from the government, my honest opinion is now we don’t need subsidies.” He projected that EVs will reach price parity with internal combustion engine vehicles within two years. He added that now five companies are starting to manufacture lithium-ion batteries and within two years, cost may come up to $90 kilowatt per hour.

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