Buckle Up! EV Prices Are Zooming Down To Petrol Levels In Just Months, Claims Gadkari

Union Road Transport and Highways Minister Nitin Gadkari has announced that electric vehicle (EV) prices in India are expected to reach parity with petrol-powered cars within the next four to six months. This landmark development is set to accelerate EV adoption nationwide, easing the economic burden of India’s ₹22 lakh crore annual fossil fuel import bill.

Price Parity And Market Impact

Battery costs have dropped significantly from $150 per kWh to around $55–$65, driving down EV prices rapidly.

Government initiatives, including GST rate reductions on smaller vehicles, have further lowered overall vehicle prices.

This price alignment is projected to transform consumer preference towards cleaner, sustainable mobility options.

Ambitious Industry Vision

Gadkari outlined a bold plan to propel India’s automobile sector to become the world’s number one within five years, highlighting growth from ₹14 lakh crore to ₹22 lakh crore since his tenure began. India's automobile market now ranks third globally after the US and China.

Sustainable Growth Initiatives

The minister also emphasized parts of the green agenda including ethanol-based farming income and innovative waste-to-road programs, underscoring India’s commitment to clean mobility and environment-friendly infrastructure development.

Sources: Times of India, Business Standard, Economic Times, PIB, NDTV