New Delhi– Emphasising that electric cars were the future, the Union government here on Thursday said it is time for the auto industry to manufacture more such vehicles.

“It is time for the auto industry to manufacture more electric vehicles. I am confident electric vehicles will be a success story,” Union Minister for Road Transport and Highways Nitin Gadkari said at the CNBC-TV18 Auto CEO Summit.

Nitin Gadkari
Nitin Gadkari

The minister said the success of the electric car depends on whether its prices can be brought down, which requires the automobile companies to focus more on research.

“The industry needs to focus on research for electric vehicles. I think if the prices come down, electric cars will do well,” Gadkari said.

Mahindra and Mahindra Executive Director Pawan Kumar Goenka stressed that the country needs to attract global automobile majors to conduct research and development for electric cars in India.

Meanwhile, Tata Motors is trying to put out electric buses by the end of this year, its Executive Director – Commercial Vehicles Ravindra Pisharody said.