India, Sept. 30 -- Union minister Nitin Gadkari on Wednesday urged automobile manufacturers to bring down the prices of electric vehicles (EVs), saying that lower rates are key to wider adoption amid efforts to reduce the country's dependence on fossil fuel imports.

Noting that lithium-ion battery costs have dropped from USD 150 to USD 50 per kilowatt-hour since the government decided to push EVs, Gadkari said prices have stayed high because demand currently outstrips supply.

He asked the industry to lower rates "in the interest of the consumer" and predicted that rising production would force companies to do so anyway, as competition intensifies and quality improves.

"I am requesting the automobile industry to reduce the rate in view ...