Electric vehicles don’t need subsidies: Gadkari

Union minister Nitin Gadkari on Thursday said there is no need to provide subsidy for electric vehicles (EVs) market as consumers are on their own now choosing EVs or CNG vehicles. Addressing BNEF Summit, Gadkari said initially costs of manufacturing...

PTI

New Delhi, Updated At : 09:17 AM Sep 06, 2024 IST

Union minister Nitin Gadkari

Union minister Nitin Gadkari on Thursday said there is no need to provide subsidy for electric vehicles (EVs) market as consumers are on their own now choosing EVs or CNG vehicles.

Addressing BNEF Summit, Gadkari said initially costs of manufacturing electric vehicles were high, but as demand has increased, production costs have dropped, making further subsidies unnecessary.

“Consumers are now choosing electric and compressed natural gas vehicles on their own and I do not think we need to provide much subsidy for electric vehicles,” the minister said. “In my opinion, manufacturing of electric vehicles no longer needs to be subsidised by the government.”

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CNG choice EV subsidy Gadkari statement