‘Expect Electric Car To Cost The Same As Petrol Car In Two Years’

NEW DELHI: India’s automobile sector, a ₹7.5 lakh crore industry employing about four crore people, is a key contributor to the economy and will play a defining role in the country’s quest to become a five trillion dollar economy. It’s my ministry’s mission to double the size of the industry in the next five years, says Nitin Gadkari, Minister of Road Transport and Highways. The transition to electric vehicles, thereby reducing the country’s fuel imports and vehicular pollution, can be expedited through tech innovations and bulk manufacturing, he said at ‘Catalyst 2022’, hosted by StratNews Global. Asked about the high prices of electric vehicles compared to the fossil fuel-powered ones, he said new technology and increased demand will bring prices down and he expects the price of an electric car to be the same as a petrol car in two years. The session was moderated by StratNews Global Editor-in-Chief Nitin A. Gokhale.