Underlining factors such as customers buying EVs on their own, lower production costs and lower GST on EVs, Gadkari said that the ask for subsidies is not justified
The minister also cited falling battery costs as a key factor driving EV affordability, adding that lithium-ion battery prices have dropped from $150 per kWh to $107-108 per kWh
The Centre is planning to roll out FAME-III scheme in the next two months, with a likely outlay of INR 10,000 Cr to INR 12,600 Cr
Union transport minister Nitin Gadkari has reportedly said that the Indian electric vehicle (EV) industry no longer needs government subsidies.
As per news agency PTI, Gadkari said that consumers are now choosing EVs on their own, making subsidies for EV players unnecessary.