On Thursday, the Union Minister of Highway and Transport, Nitin Gadkari, mentioned there is no such thing as a want for additional subsidies to push electrical automobile (EV) adoption within the nation.
The minister cited that reducing battery prices and rising adoption will make EVs extra reasonably priced within the coming years.
Underlining elements similar to prospects shopping for EVs on their very own, decrease manufacturing prices, and decrease GST on EVs, Gadkari mentioned that the ask for subsidies just isn’t justifiedThe minister additionally cited falling battery prices as a key issue driving EV affordability, including that lithium-ion battery costs have dropped from $150 per kWh to $107-108 per kWhThe Centre is planning to roll out the FAME-III scheme within the subsequent two months, with a probable outlay of INR 10,000 Cr to INR 12,600 Cr