India’s EV Market: From Subsidies to Market-Driven Growth
Union Minister Nitin Gadkari recently stated that the electric vehicle (EV) industry has matured to a point where government subsidies are no longer necessary to support manufacturers. Consumers are now choosing EVs or CNG vehicles on their own, potentially causing a shift in India’s mobility industry. Gadkari highlighted that the cost of manufacturing EVs has dropped over the years, further making subsidies unnecessary. A study by Lawrence Berkeley National Laboratory found that the cost of…