Electric vehicles (EVs) will cost the same as or less than petrol and diesel cars by 2024, Union Minister of Road, Transport and Highways, Nitin Gadkari has said.
The cost of EVs is high because there are only a few of them, but India is awaiting an EV revolution with 250 startups engaged in EV tech innovation, a report in The Economic Times quoted Gadkari as saying.
Big automakers have also entered the competition to reduce the cost of EV manufacture, the minister said at a function in Kolkata.
The government is not stopping anything but encouraging green vehicles and green fuels so that the country fulfils its commitment in COP26, Glasgow this year, he said while answering a query that whether Ministry was phasing out internal combustion (IC) engine vehicles.
Gadkari also stated that electric trucks and tractors will be introduced to Indian roadways in the near future.
To encourage adoption of electric vehicles (EVs), the National Highway Authority of India (NHAI) is working on constructing EV-charging facilities all along its length. Solar power now powers up to 38% of the National Grid, indicating that India are firmly heading toward greener transportation.
Gadkari emphasised on manufacture and consumption of ethanol. He favoured 50% ethanol in aviation fuel just the way Brazil has done it. In Brazil, the United States, and Canada, all major brands are now producing ‘flex-fuel’ automobiles, which can transition from one green fuel to another. As a result, EV+bioethanol, hydrogen+EV, and petrol+electric vehicles will be available.
Gadkari was also quoted as saying that the government is putting the greatest emphasis on diversifying our energy industry, which has previously been dominated by fossil fuels. EV, bio-LNG, green hydrogen, CNG, and bio-ethanol also have promising futures. He went on to say that he would want industry leaders to invest more in future clean technology.