He highlighted the promising future of vehicles powered by alternative fuels and expressed confidence that India would be an active player in the global market in the coming years.
Read by: 100 Industry Professionals
Read by 100 Industry Professionals
Nitin Gadkari“>
India is on track to become the world’s leading manufacturer of electric vehicles (EVs) by 2030, said Nitin Gadkari, Union minister for road transport and highways, on Monday.
He highlighted the promising future of vehicles powered by alternative fuels and expressed confidence that India would be an active player in the global market in the coming years.
“When our govt came to power in 2014, I spoke about electric vehicles. At that time, no one believed it, but today it’s a reality,” Gadkari said. “Back then, the Indian automobile industry was valued at ₹14 lakh crore. Recently, it grew to ₹22 lakh crore, surpassing Japan to become the world’s third largest automobile market, following the USA and China… Now, we are aiming to be the No. 1 manufacturer of electric vehicles in the world by 2030.”He expressed confidence in the rising popularity of EVs amid the decreasing cost of lithium-ion batteries. He said ongoing research in battery chemistry and innovations would further increase demand. “Currently, some companies are exporting half of their production, and we expect significant demand both nationally and globally.” —Manoj Badgeri.
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