India welcomes Tesla and other EV investments as long as the vehicles are made in India: Nitin Gadkari

Union Minister Nitin Gadkari

India is open to any brands and companies including Tesla investing in the electric vehicle ecosystem, as long as the manufacturing happens in India, said the Union Minister of Road Transport and Highways Nitin Gadkari during the CNN News 18 Indian of The Year 2022 Awards held on October 12.

"Any brands are welcome in India as long as it is manufactured in India. If any company is making components and vehicles somewhere else and only using India as a market, then that is not welcome," He said.

Green hydrogen is the future of India and we will be ready soon to even export the same to other countries, said the Union Minister.

Gadkari arrived at the event in a first-of-its-kind hydrogen fuel cell electric vehicle (EV), Toyota Mirai, showcasing India’s commitment towards green hydrogen fuel and 'driving the talk' on the strong push for EVs.

“The hydrogen-fuelled cars are the future of India and we can get green hydrogen from multiple ways like sewage water, and municipal waste…We will also export green hydrogen to the world and that is the dream,” said Gadkari in an exclusive interview with Moneycontrol on Wednesday on the sidelines of the event.

Gadkari added that within a year green hydrogen adoption in vehicles will ramp up. “Within a year, we will see the cars, trucks, and busses running on green hydrogen and 100% confident that our Farmers will generate green hydrogen,” he said.

Talking about flex-fuel vehicles, the Union Minister highlighted that the vehicles will be cost-effective and will reduce India’s dependence on petrol imports.

“Cost of one litre of petrol is as high as Rs 120 per litre, however, if the fuel is replaced with Bio Ethanol the prices will come down to at least Rs 25 per litre. This is a cost-effective and pollution-free fuel,” he said. Petroleum import is presently around Rs 17 lakh crores and a day will come that out farmers themselves will generate this fuel and bring that cost down, Gadkari added.

In fact, minister Gadkari on October 11th launched India’s first flex-engine car by Toyota Motor. The engine runs on ethanol-mixed petrol. The Flex fuel is popular in the US and EU and is new to India. Gadkari had also issued an advisory to carmakers to consider transitioning towards flex fuel in the next 6 months.

On the high cost of EVs in India, Gadkari said that there are many manufacturers waiting to make more cars and when the volume goes up, the cost will automatically come down.