The minister cited that decreasing battery costs and growing adoption will make EVs more affordable in the coming years.
- Underlining factors such as customers buying EVs on their own, lower production costs, and lower GST on EVs, Gadkari said that the ask for subsidies is not justified
- The minister also cited falling battery costs as a key factor driving EV affordability, adding that lithium-ion battery prices have dropped from $150 per kWh to $107-108 per kWh
- The Centre is planning to roll out the FAME-III scheme in the next two months, with a likely outlay of INR 10,000 Cr to INR 12,600 Cr