At the 10th edition of the Times Network India Economic Conclave 2024, Union Minister for Road Transport and Highways, Nitin Gadkari, shared transformative insights about India’s automobile and electric vehicle (EV) sectors. He highlighted the significant reduction in lithium-ion battery costs, making EVs more accessible to the masses.
Lowering EV Costs Through Battery Innovation
According to Gadkari, the cost of lithium-ion batteries has dropped from 150 USD per kWh to 110 USD per kWh in India. He predicted that once prices reach 100 USD per kWh, EV ownership will become cost-competitive with traditional diesel and petrol vehicles. This decline in battery prices is expected to accelerate India’s transition to sustainable mobility, with a ripple effect on manufacturing and infrastructure investments in the EV ecosystem.
Automobile Sector’s Impressive Growth
Gadkari emphasized the remarkable growth of India’s automobile sector. Since he took office, the industry has expanded from Rs 7 lakh crore to Rs 22 lakh crore, playing a pivotal role in the country’s economic development. The sector now contributes the highest GST revenue to state and central governments. India has also climbed the global automotive rankings, surpassing Japan to become the third-largest automobile market. With ambitious plans, India aims to secure the top position within five years.
Delhi-Dehradun Expressway: A Milestone for Connectivity
In addition to EV advancements, Gadkari announced the upcoming inauguration of the Delhi-Dehradun Expressway by Prime Minister Narendra Modi. Officially called the Delhi-Saharanpur-Dehradun Expressway, this 210-kilometer project, developed at an estimated cost of Rs 13,000 crore, will reduce travel time between Delhi and Dehradun to just two hours. The expressway is expected to boost regional connectivity and economic activity.
Phasing Out Diesel Vehicles in Delhi
As part of India’s push towards sustainability, Gadkari revealed plans to eliminate diesel buses from Delhi within five years. He envisions a future where only 15-20% of vehicles on Delhi’s roads run on diesel, with the majority transitioning to cleaner energy sources such as EVs.
Conclusion
With lithium-ion battery costs declining and a growing focus on infrastructure and sustainability, India is paving the way for an affordable and eco-friendly future in transportation. Gadkari’s vision reflects a strong commitment to innovation and environmental stewardship, setting a benchmark for India’s global leadership in mobility.