Nitin Gadkari's big claim on EV prices in 4-6 months: 'Will be equivalent to...'

Union Road Transport and Highways Minister Nitin Gadkari on Monday said the prices of electric vehicles (EVs) in India are expected to be on par with those of petrol-powered vehicles within the next four to six months.

"Within the next 4–6 months, the cost of electric vehicles will be equivalent to the cost of petrol vehicles," Gadkari said while addressing the 20th FICCI Higher Education Summit 2025.

The minister said India’s dependence on fossil fuels is both an economic burden and an environmental hazard, as about ₹22 lakh crore is spent annually on importing fossil fuels.

Gadkari said the Indian automobile industry has expanded from ₹14 lakh crore when he took charge as minister to ₹22 lakh crore now.

“Within five years, our target is to make India’s automobile industry the number one in the world,” he said.

The size of the US automobile industry is currently around ₹78 lakh crore, followed by China at ₹47 lakh crore and India at ₹22 lakh crore.

The minister also noted that farmers have earned an additional ₹45,000 crore by producing ethanol from corn.

Last month, Gadkari had dismissed allegations linking him to ethanol blending policies, calling them an outcome of vested interests hurt by the government’s push for clean fuels.

Speaking at a programme in Nagpur, he had said, “The tree that bears fruit is the one people throw stones at… I don’t respond to such criticisms because then it becomes news.”

He reiterated that his policy focus is to promote ethanol blending, make farmers energy producers, and reduce pollution.

Gadkari had also clarified that he had “not taken a single penny from any contractor till date” and that such allegations were a part of political life.

"People know what the truth is...I have gone through such things many times in the past."