Minister of Road Transport and Highways Nitin Gadkari on Monday said the government plans to introduce electric buses in all Indian cities and on some long routes like Delhi-Shimla, Delhi-Chandigarh and Mumbai-Pune in the next 5 years. The minister said that the fall in battery prices will reduce bus fares for passengers by 30 percent. It will also help in reducing pollution.
Lithium-ion battery costs fall
The minister said that the cost of lithium-ion batteries has come down from $150 to $112 per kilowatt hour. This has happened due to 350 percent growth in this segment in the country. The Union Minister said, “When it comes down to $100, the operating cost will be similar to that of petrol and diesel vehicles. If you spend Rs 20-25 thousand on petrol vehicles in a month, then on electric vehicles you will have to spend only Rs 2,000.” Will have to spend Rs.
EV manufacturing picks up pace
EV manufacturing has gained momentum in the country, with production increasing across all segments. “There are 400 electric scooter manufacturers (in the country). We have manufacturers making electric scooters with a range of 60 km,” Gadkari said. He said that the government has brought a new policy for manufacturing of e-vehicles (EV). The Commerce Ministry had said on Friday that the policy has been formulated to attract investment in the e-vehicle sector by reputed global EV manufacturers. The policy sets a minimum investment of Rs 4,150 crore (about $500 million) for foreign companies that want to set up electric vehicle manufacturing facilities in the country. The plan aims to attract investments from major EV manufacturers like Elon Musk-led Tesla. There is no upper limit set on investment in this.
Input: IANS
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