EV Makers No Longer Need Subsidies: Transport Minister Nitin Gadkari

EV Makers No Longer Need Subsidies: Transport Minister Nitin Gadkari

SUMMARY

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. 

Note: We at Inc42 take our ethics very seriously. More information about it can be found here.

No results were found for "".
  • «
  • 1
  • »
modal lock

Continue Reading With A Free Inc42 Account

Get the most out of your Inc42 experience by creating a free account. Enjoy personalized recommendations, ad-lite browsing, and access to our exclusive newsletters.