When will EVs cost the same as petrol-run vehicles? Minister Nitin Gadkari answers
Union Minister Nitin Gadkari announced that electric vehicle prices in India will match petrol vehicle prices within four to six months, emphasising the need for clean energy solutions to reduce economic strain and environmental risks from fossil fuel reliance.
Union Minister for Road Transport and Highways Nitin Gadkari said on Monday that the prices of electric vehicles (EVs) will likely match those of petrol-powered vehicles in India in the coming four to six months.
Gadkari highlighted that India's reliance on fossil fuels is both an economic strain, with ₹22 lakh crore spent yearly on fuel imports, and an environmental risk. Therefore, adopting clean energy solutions is vital for the nation's development.
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“Within the next 4-6 months, the cost of electric vehicles will be equivalent to the cost of petrol vehicles,” Gadkari said at the 20th FICCI Higher Education Summit 2025.
“Within five years, our target is to make India's automobile industry the number 1 in the world," he said.
"When I took charge as transport minister, the size of the Indian automobile industry was ₹14 lakh crore. The size of the Indian automobile industry now is ₹22 lakh crore," Gadkari added.
The size of the US automobile industry is ₹78 lakh crore currently, followed by China ( ₹47 lakh crore) and India ( ₹22 lakh crore).
Gadkari said that farmers have gained an extra ₹45,000 crore through ethanol production from corn.
Subsidies under PM E-drive scheme
The announcement comes days after the centre announced that EV charging and battery-swapping stations installed in government offices, public spaces in cities and along highways will get subsidies under the ₹10,900-crore PM E-drive scheme, as Mint reported on 28 September.
According to the guidelines rolled out by the Union Ministry for Heavy Industries, the subsidy will be provided on the upstream infrastructure and electric vehicle supply equipment (EVSE) costs.
This infrastructure includes distribution transformers, low- and high-tension cables, AC distribution boxes, circuit breakers/isolators, and other protection devices, along with tubular or PCC mounting structures, fencing, and civil works. EVSE consists of the charger and charging guns.
(With inputs from agencies.)
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