Will Tesla's Entry Spark a Revolution in India's EV Market?

Transport minister Nitin Gadkari has voiced strong confidence in India's homegrown electric vehicle (EV) brands, stating they are more than capable of competing with global giants like Tesla. "India is an open market and you're free to come here, manufacture and compete on cost. But our Indian electric car makers are no less and we have the best in terms of design, quality and technology right here today," Gadkari remarked at the HPCL presents Times Drive Auto Summit & Awards.

India's Automobile Industry: A Leap Towards Quality

Gadkari highlighted the transformation of the Indian automobile industry from a cost-based sector to a quality-based industry. This shift, he believes, will propel India to the top of the global automobile market in the near future. "Currently, we are the third largest automobile market in the world... In five years, because of the increase in alternative fuel usage, improved cost and quality and electrification, we should be No. 1," he added.

Preparing for a Flexi-Fuel Future

The government and industry are collaboratively working towards a flexi-fuel future, with several companies already lining up flex fuel vehicles and others approved to manufacture lithium-ion batteries under special schemes. Gadkari also noted the reduction in battery prices to $100 per kilo watt hour, predicting cost parity between EVs and petrol/diesel vehicles in six to seven months.