NITI Aayog CEO Amitabh Kant today revealed the cost of electric vehicles would almost become at par with the combustion engine cars in the coming 2-3 years, which is even owing to decline in price of a battery and India should be ready for this sort of transition.
With respect to survey, that India has 28 cars for every 1000 people, which is much lower as compared to the Europe or US which have 980 and 850 cars for 1000 people, Amitabh said that this means as India transits towards the Urbanisation the future will all be electric, connected and shared.
“We will transit towards there as the cost of the battery falls from $276 per kilowatt-hour (kWh) to $76 per kilowatt/hour. The cost of electric vehicles will almost become on par with combustion (engine) cars in the next 3-4 years,” the NITI Aayog CEO said while addressing a CII event here.
Electric Vehicle generally works on the lithium-ion batteries.
“When this happens it is important that India should have done adequate spadework that our three-wheelers, four-wheelers and our buses all become electric in due course and we are able to save a huge amount of crude oil consumption and subsequently the nearly $111 billion spent on its import,” he said.
He revealed,d that it was critical that as India modernizes the country creates a model of urbanization where we are even able to recycle our water, recycle our waste, where we are able to make sure that there is a public transportation truly.