Business Standard

The race for price parity between EVs and conventional vehicles in India

Can the cost of EVs match that of conventional fuel-powered vehicles in a year? The road is long yet

electric vehicles
Premium

The expected drop in battery prices, maturing of the EV technology and higher localisation coupled with competitive pricing will bridge the price gap between EVs and ICE SUVs

Shally Seth Mohile
At a recent media event, Road Transport and Highways Minister Nitin Gadkari said that in a year’s time, the price of an electric vehicle (EV) will match that of an internal combustion engine (ICE) vehicle.

EVs are currently far more expensive than conventional fuel vehicles owing to battery costs that make for 35 to 40 per cent of their price. While an electric car costs almost twice of petrol or diesel models, e-buses cost nearly 1.5x to 2x more than their diesel counterparts, depending on the length, number of seats and other specifications.

For instance, the electric version of the

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jun 26 2022 | 6:26 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com