Electric vehicles will become cheaper than combustion vehicles in three years as the price of battery packs of EVs is expected to fall by almost 51 per cent per unit, NITI Aayog CEO Amitabh Kant said.
Kant was speaking at the Mobility Talk Corporate Conclave at the World Sustainable Development Summit (WSDS) 2020, TERI’s annual flagship event being held in the capital.
“Electric vehicles will become much cheaper than combustion vehicles in three years. The price of battery packs of EVs is expected to fall to USD 76 per kilowatt-hour (or unit) in three years, down from the present-day USD 156 per unit,” he said.
Reaffirming the national vision towards moving to clean mobility, Kant said, given its size and scale of growth potential, Indian industry must be the biggest driver of change to make the country the centre for manufacturing EVs.
“There are two challenges to address: to ensure the new form of urbanisation which is based on public transportation, and to ensure India doesn’t lose out among global manufactures of tomorrow,” Kant said.