Nitin Gadkari Said, “EV Costs Will Match Petrol Vehicles in 4 to 6 Months”

The Union Minister Nitin Gadkari states that in 4-6 months, electric vehicle prices will be equal to those of petrol car prices, owing to the reduction in battery costs.

Union Minister for Road Transport and Highways Nitin Gadkari said that the rapid decline in battery prices will soon make the cost of electric vehicles in India comparable to that of petrol-powered vehicles. At the 20th FICCI Higher Education Summit 2025, the Minister said prices will equalise within this time frame of four to six months. Battery price is the highest cost component in an EV, and thus, the steep drop in prices has accelerated the process.

Costs To Equalise

This was Minister Gadkari’s very important statement concerning the timing of the EV costs equaling the conventional petrol cars. He confirmed that very soon, within this period of four to six months, the purchase price of an electric vehicle will equal the purchase price of a petrol vehicle. This will remove the biggest barrier to the mass adoption of EVs, namely, their higher upfront cost.

Dependence Is Costly

The other side of economic and environmental imperatives is that the rapid adoption of EVs is being forced. Gadkari said India’s dependence on fossil fuels is a double burden. In the economic sense, the country has to cough out about ₹22 lakh crore every year to its adversary in the form of importing fuel. In the environmental sense,  fossil fuel-based pollution is adversely affecting the clean energy adoption agenda of this nation, which is vital for its progress and fiscal well-being.

Industry Growth Target

The Minister gave an ambitious target for the Indian automotive sector. The government wants to see the Indian automobile industry become number one in the world within the next five years. This vision predicts the massive growth of the industry with a focused shift to be leaders in electrification and alternative fuels.

Auto Sector Value

Taking into consideration the above figures, the Minister also indicated that since the time he took charge of the Transport Ministry, the industry has grown from 14 lakh crore at that time to 22 lakh crore today, indicating that it is capable of further growth to reach number one in the world.

Biofuel Revenue Stream

Speaking in the interest of alternative energy, Gadkari said that the ethanol production program has been a great success. Farmers producing ethanol from corn have profited handsomely to the tune of ₹45,000 crore collectively. This will not only push rural incomes but will also provide greener alternatives to fossil fuels.

Skill Development Focus

Besides production and infrastructure, the Minister stressed that there is a strong case for higher education and skill development. He called upon the institutions to take into consideration emerging technologies and their practical applications in their relevant curriculum. He said that the most potent strength India has is its young, talented, and skilled manpower, and how we use that asset through the right education is essential for moving ahead in the world.