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“Green hydrogen is the future because we are using electrolyzer process to make hydrogen. For one kg of hydrogen, we need 150 units of power. We are using biotechnology, generating biomass, and using it for getting methane in bio digester. And that methane, we can convert into hydrogen or CNG. A lot of municipal waste is available in the country, so that can be used as a cheaper source,” Gadkari said at CNBC-TV18 India Business Leaders Awards (IBLA) in Mumbai on December 7.
The minister added that in 10 years, India will be number one in the world in alternate fuel and biofuel and asserted that the size of the fossil fuel based economy is very big.
He recalled that when the electric vehicles journey of the country began, the lithium ion battery rate was $150 per kilowatt per hour which has now come to $110.
He explained electric vehicle operating cost is much cheaper than fuel based vehicles and added that that’s why there has been a 400% rise in EV sales with some models even having a waitlist. Citing an example, he explained, if one spends 120 rupees for petrol for a certain distance, they will have to spend only 15 rupees for the same distance in an EV.
Tata Motors, Mahindra, Hyundai, and Toyota have already started with flex engines whereas Rajiv Bajaj just launched Bajaj Auto’s CNG motorcycle.
“It is cost effective. and that is the reason that the import substitutes are cost effective, pollution free and indigenous. Now, because of the scrapping policy, we will reduce the cost of the components by 30%, and we will be more competitive in the world market as. I’m 100% confident that our automobile industry will be number 1.”
