Union Minister Nitin Gadkari states that the reduction in lithium-ion battery prices will make electric vehicles more affordable, boosting India's transition to sustainable transport. He also highlighted the government's push for green technologies and cycling infrastructure
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Union Minister for Road Transport and Highways, Nitin Gadkari, has emphasised that the decreasing cost of lithium-ion batteries will significantly lower the price of electric vehicles (EVs), making them more affordable to a larger section of the population. Speaking at the launch of an eco-friendly electric cycle in Thane on Monday, Gadkari highlighted the importance of transitioning from fossil fuels to sustainable energy sources in combating pollution, one of India’s biggest challenges.
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Gadkari pointed out that India’s dependency on fossil fuels imposes both an economic and environmental burden, with the country spending approximately Rs 22 lakh crore annually on fuel imports. He stressed that the shift towards clean energy alternatives like electric vehicles and biofuels is essential not only for environmental reasons but also for India’s economic progress.
Advancements in battery technology, particularly the drop in lithium-ion battery prices from USD 150 per kWh a few years ago to around USD 100 now, are driving the affordability of electric vehicles. Gadkari stated that further reductions in battery costs would bring EVs closer to price parity with traditional petrol and diesel vehicles, thereby enabling broader adoption. "Once the price of lithium continues to drop, the cost of electric vehicles will decrease, making them accessible to the masses," he noted.
Looking ahead, Gadkari expressed confidence that by 2030, India would emerge as the global leader in electric vehicle production, significantly impacting the worldwide automotive market. He also mentioned that India’s automobile sector has already overtaken Japan to become the third-largest globally since 2014.
The Minister also stressed the need for sustainable urban transport solutions, such as cycling, given the increasing urbanisation of India. He suggested that promoting cycling could help address the challenges of traffic congestion and environmental pollution, while also encouraging healthier lifestyles.
Gadkari also focused on the growing export potential of India’s electric two-wheelers, which are becoming increasingly popular internationally. "Fifty percent of India’s two-wheelers are now being exported, and this export trend is outpacing domestic sales," he said.
In addition, he pointed out the government's initiatives to convert agricultural waste into biofuels, such as bio-CNG and bio-aviation fuel. This shift aims to enhance rural incomes while reducing pollution and decreasing India’s fuel import costs. The Minister further advocated for converting rice straw into biofuel to reduce air pollution caused by its burning.
(With inputs from PTI)
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