Union Minister says EVs could soon cost as much as their petrol counterparts

  • Gadkari made the comment while speaking at an event on Tuesday
  • The Union Minister also spoke about hydrogen-powered cars being developed in India
  • Public transport, such as buses, will also be electrified across the country

The Union Minister for Road Transport & Highways, Nitin Gadkari, has some good news for people who have been waiting for EVs to become cheaper. As per the minister, electric vehicles will cost almost the same as their petrol counterparts by 2023. Gadkari shared the prediction while speaking at an event on Tuesday. The minister also spoke about the government’s intentions to revamp the state of buses across India.

Sharing some additional data on the state of electric vehicle sales in the country, Gadkari said that the EV business in India soared by 800% with an estimated 17 lakh electric vehicles reportedly registered so far this year.

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Speaking about the electrification of the country’s buses, the minister said that it wants to ensure all diesel buses are converted into electric models. This would also help India move towards its goal of net zero emissions.

Electric cars not the only option

The Union Minister further spoke about hydrogen-powered vehicles, something that companies like Toyota are developing. However, it’s unclear whether these vehicles will gain more traction than upcoming electric cars.

Meanwhile, companies like Ola are expected to launch electric cars over the next couple of years. The manufacturer has certainly come a long way since the days of being an up-and-coming ride-hailing app. Ola Electric has also established itself in the electric scooter segment with offerings like the S1 and the S1 Pro.

With the number of electric vehicles only expected to increase next year, we hope that the Union Minister’s predictions come true and that EVs end up becoming cheaper than their ICE counterparts.

Via: Livemint