India set to become world's largest manufacturer of EVs by 2030

Gadkari believes that the popularity of EVs will continue to rise as lithium-ion batteries become cheaper.

Nitin Gadkari, Minister for Road Transport & Highways, has said that India is set to become the world’s largest manufacturer of EVs by 2030.

“When our government 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 automotive industry was valued at Rs 14 lakh crore. Recently, it grew to Rs 22 lakh crore, surpassing Japan to become the world’s third largest automobile market, following USA and China.” The minister went on to state, “Now, we are aiming to be the No.1 manufacturer of electric vehicles in the world by 2030.”

Battery technology is evolving at a rapid pace, supported by ongoing research in battery chemistry. Gadkari believes that the popularity of EVs will continue to rise as lithium-ion batteries become cheaper.

Source: ET Auto