'Lithium Ion Battery Costs Coming Down In India': Gadkari Shares Plans For More Affordable EVs At IEC 2024

On the second day of the 10th edition of the Times Network India Economic Conclave, Nitin Gadkari, Minister of Road Transport and Highways, said, "Lithium-ion battery costs are coming down in India."

Gadkari explained that the cost of an EV battery, which was previously 150 USD per kWh, has now reduced to 110 USD per kWh. He added that when the price of batteries drops further to 100 USD per kWh, the cost of owning an electric vehicle will be comparable to that of diesel and petrol vehicles.

Also Read: Delhi-Dehradun Expressway To Be Inaugurated In Next 15 To 20 Days Says Nitin Gadkari At IEC 2024

Speaking about the growth of the Indian automobile sector, Gadkari noted, "When I became the minister, the auto industry in India was worth Rs 7 lakh crore. Today, it has grown to Rs 22 lakh crore. The auto industry is very important for the economic growth of our nation as it contributes the highest GST revenue to both state and central governments. Previously, we were ranked 7th in the world in the automobile sector. Recently, we surpassed Japan to become the 3rd largest. In the next five years, we aim to secure the top position globally."

Gadkari also highlighted the upcoming inauguration of the Delhi-Dehradun Expressway by Prime Minister Narendra Modi within the next 15 to 20 days. Officially named the Delhi-Saharanpur-Dehradun Expressway, the project, approved by the National Highways Authority of India (NHAI), spans 210 kilometers and has been developed at an estimated cost of Rs 13,000 crore. Designed to significantly enhance connectivity, the expressway is expected to reduce travel time between Delhi and Dehradun to just two hours.

He also said that, in the next five years, there will be no diesel buses operating in Delhi, and only 15-20% of vehicles on the city's roads will run on diesel.