Union Minister for Road Transport and Highways, Nitin Gadkari, said that the cost of electric vehicles (EVs) in India will be on par with petrol and diesel vehicles within the next two years. Speaking at the 64th ACMA Annual Session, Gadkari, a longtime advocate for electric mobility, also reflected on the scepticism he faced a decade ago from major automobile manufacturers.

"Ten years ago, when I was pushing for EVs, automobile giants in India didn’t take me seriously. Now, they tell me they may have missed the bus," Gadkari remarked, emphasising how the industry's perspective on EVs has drastically shifted.

During his address, the minister also urged automobile companies to contribute to road safety initiatives through their corporate social responsibility (CSR) programs. He emphasized that road safety remains a significant concern for his ministry, with poorly designed and engineered roads being one of the leading causes of accidents in India.

Union Minister Nitin Gadkari also stated that he is not opposed to offering additional subsidies or incentives for electric vehicles (EVs), should the Finance Ministry or Ministry of Industries choose to implement them.

"I am not against any additional subsidy or incentive for electric vehicles. If the Finance Minister and Industries Minister want to give more, I have no problem," Gadkari remarked.

However, he pointed out that incentives may not be necessary after two years, as the cost of EVs is expected to align with that of petrol and diesel vehicles by then. Nonetheless, he reaffirmed his openness to any further incentives during this transitional period.