India’s EV Push May No Longer Need Subsidies: Nitin Gadkari

India’s EV Push May No Longer Need Subsidies: Nitin Gadkari

SUMMARY

The minister highlighted how the costs of EVs are expected to align with those of petrol and diesel vehicles in two years, making additional financial incentives redundant

This comes a few days after Gadkari suggested that subsidies to EV makers are no longer needed

Even with the government aiming for EV penetration to reach 30% by 2030, EV adoption for both two- and four-wheelers has rather remained sluggish

Union minister for road transport and highways Nitin Gadkari has said that he doesn’t have any objection to subsidies for electric vehicles (EVs) from the finance and heavy industries ministers.

Addressing the 64th ACMA annual session, the minister highlighted how the costs of EVs are expected to align with those of petrol and diesel vehicles in two years, making additional financial incentives redundant. 

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