Prices Of EVs To Match Petrol Cars By Early 2026 Says Nitin Gadkari

GaadiWaadi -

Nitin Gadkari has indicated that electric vehicle prices in India could match those of petrol vehicles within the next four to six months in India

Union Minister Nitin Gadkari has indicated that electric vehicle prices in India could match those of petrol-powered vehicles within the next four to six months. It comes on the back of increased consumption of zero-emission vehicles across different segments over the last few years. If the price parity can be achieved, there is no doubt that the EV sales will accelerate further.

Highlighting the economic stakes, Gadkari noted that India spends roughly Rs. 22 lakh crore annually on fuel imports. The figure indicates both the financial and environmental urgency of transitioning to sustainable energy sources. According to the minister, making EVs more affordable is a key step in promoting sustainable mobility nationwide.

The government is actively supporting policies and incentives to lower costs and enhance accessibility for consumers as well. Gadkari also outlined ambitious goals for India’s automobile sector. He aims to position it as the world’s largest within the next five years. India surpassed Japan to become the world’s third largest automobile market.

Also Read: Upcoming Hyundai Cars You Should Know About – SUVs, EVs, Hybrids

The significant milestone achieved around January 2023 and it continues to be the case. While the sector’s valuation has grown from Rs. 14 lakh crore to Rs. 22 lakh crore under his tenure, it still lags behind the United States which boasts a valuation of Rs. 78 lakh crore and the leading EV consumer in the world China with Rs. 47 lakh crore.

Indian farmers have reportedly earned Rs. 45,000 crore producing ethanol from corn as the development supports both cleaner energy production and greater self reliance in fuel resources. If the EV prices drop and substantial incentives are put in place, the said transition to electric mobility is expected to gain significant momentum in the near term.

Also Read: EVs Sales In India Surpass 10 Lakh Units In H1 FY2026

The E20 fuel program was launched earlier this year to reduce pollution and boost farmers’ incomes as well as decrease oil imports. It consists of 20 per cent renewable ethanol and 80 per cent petrol. While it offers environmental and economic benefits by using domestic biomass like sugarcane, the rollout has been chaotic to say the least and caused concern among vehicle owners.

It is in particular regards to compatibility, potential mileage decrease and the need for component replacements in older vehicles. Looking ahead, the government’s vision includes turning India into a manufacturing hub for electric vehicles.

The post Prices Of EVs To Match Petrol Cars By Early 2026 Says Nitin Gadkari appeared first on Gaadiwaadi.com - Latest Car & Bike News by Surendhar M.

from Gaadiwaadi.com – Latest Car & Bike News https://ift.tt/dmc8UWT