EVs to Get Cheaper: Lithium-ion Battery Costs Drop in Budget 2026

• Budget 2026 reduces customs duty on raw materials for lithium-ion batteries, aiming to make India a global EV hub.
• This move is expected to significantly lower prices of electric cars, scooters, and bicycles.
• Battery production costs could decrease by 15-20% due to reduced import duties on lithium, cobalt, and nickel.
• Electric scooter prices may drop by ₹10,000-₹20,000, and electric car prices by ₹1.5 lakh-₹2.5 lakh.
• Additional funding for battery production (ACC-PLI scheme) will boost 'Make in India' and create jobs, reducing reliance on foreign imports.

Why It Matters: Budget 2026 makes electric vehicles more affordable by reducing battery costs, promoting green mobility and domestic manufacturing.