Union Minister Nitin Gadkari stated that the reduction in lithium battery prices will significantly lower the cost of electric vehicles (EVs), making them more affordable for consumers. He emphasized that pollution is India's biggest challenge, with the transport sector being a major contributor, highlighting the need for a shift from fossil fuels to alternative energy sources. Gadkari explained that the advancements in battery technology are critical to India's transition to sustainable transportation.

He pointed out that India's reliance on fossil fuels is an economic burden, with Rs 22 lakh crore spent annually on fuel imports, and an environmental issue, underscoring the importance of adopting clean energy. Speaking at the launch of an eco-friendly electric cycle in Thane, he also stressed the promotion of cycling as a sustainable urban transport option due to increasing urbanization.

Gadkari mentioned that India's automobile sector, now the third-largest globally since 2014, will lead the world in EV production by 2030, making a significant impact on the global auto market. He credited the decrease in lithium-ion battery prices (currently USD 100 per kWh) for making EVs more affordable and bringing them closer to parity with traditional fuel-powered vehicles. As the price of lithium has dropped from USD 150 per kWh a few years ago to USD 100 now, Gadkari believes further price reductions will make EVs more accessible. He reiterated that the shift to electric and alternative fuels is not just an environmental necessity but also an economic imperative.

Gadkari highlighted ongoing research in India on new battery technologies, including semi-conductors, lithium-ion, zinc-ion, sodium-ion, and aluminium-ion chemistries. He also mentioned the growing global demand for Indian-made electric two-wheelers, presenting a strong export opportunity that could boost the economy and improve India's trade balance. He shared that 50% of India's two-wheelers are now being exported, and exports are outpacing the domestic market. Gadkari pointed to new initiatives in biofuels, such as converting agricultural waste into bio-CNG and bio-aviation fuel, which would help boost farmers' incomes while reducing pollution and lowering fuel import costs.

The minister emphasized his commitment to converting rice straw into biofuel, which would address air pollution caused by its burning and provide an additional income source for farmers. He also called for the promotion of cycling as a sustainable urban transport option, advocating for dedicated cycling infrastructure to improve road safety, reduce congestion, and encourage environmentally friendly travel in cities.

Gadkari concluded by stressing that India's strong push for electric vehicles, biofuels, and urban cycling infrastructure positions the country to lead the global transition to sustainable transport solutions. Reflecting on the evolution of the electric vehicle industry, he noted how earlier discussions on electric cars and e-bikes were met with skepticism, but he now feels confident about recent advancements, such as Tata's hydrogen cell-operated trucks. He added that India's combination of technology, young talent, and agricultural innovation will ensure its competitiveness in the global market.

Disclaimer: This image is taken from Businee Standard.