Novak calls development of electric vehicles in Russia objective process and future

ST. PETERSBURG, June 6. /TASS/. The development of electric vehicles in Russia is an objective process and the future, although humanity still cannot do without internal combustion engines for now, Russian Deputy Prime Minister Alexander Novak said at the St. Petersburg International Economic Forum (SPIEF-2026).

"This is already our life, and the active development of electric vehicles is our future. There will gradually be a transition. What matters is that this is an environmentally friendly and quiet vehicle, which is now being made no worse than internal combustion engine cars -- both in terms of range and design. Therefore, I think its share will increase significantly in the future," Novak said.

At the same time, he spoke out against banning gasoline-powered cars at the current stage.

"This is not required or necessary right now, because the share of hybrid and electric vehicles is still fairly low. Probably, after some time, we will all switch to electric vehicles," the deputy prime minister added.

The 29th St. Petersburg International Economic Forum (SPIEF-2026) is taking place on June 3-6. This year, the event is held under the theme "Pragmatic Dialogue: The Path to a Stable Future." Saudi Arabia is the guest country at SPIEF. The forum program is dedicated to shaping a new model of global development amid the ongoing transformation of the world economy.

The program includes the SME Forum, the Creative Industries Forum, the Day of the Future International Youth Economic Forum, and the Ensuring Drug Security Forum. As part of the cultural program, the Petersburg Seasons festival and the traditional SPIEF Sports Games will take place. This year, Russia’s national economic development institution VEB.RF is the title partner of SPIEF.

The Roscongress Foundation is the organizer of the St. Petersburg International Economic Forum. TASS is its official general information partner.