FAME-II 'defaulters': Hero Electric, Okinawa to get subsidy recovery shock

Notices to Ola Electric, Ather, TVS, Vida for 'breaching' ex-factory price cap

Nitin Kumar New Delhi
electric two wheeler

In February, the heavy industries ministry widened the scope of its investigation after receiving complaints against Ola Electric, Ather Energy, TVS, and Hero MotoCorp’s Vida about breaching the ex-factory price cap, Business Standard earlier reported

The Centre has started penalising electric vehicle (EV) manufacturers for allegedly flouting localisation and ex-factory price norms under the second phase of the flagship Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME) Scheme (FAME-II), Business Standard has learnt.
The Ministry of Heavy Industries (MHI) has started the process of recovering “wrongly claimed subsidies” by Hero Electric and Okinawa Autotech from 2019-20, government officials said.
“The incentives claimed wrongly by Hero Electric and Okinawa will be recovered and further steps will be taken to de-register them from the FAME Scheme,” said a senior official, adding that the decision was taken after consultation with the Ministry of Law.

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First Published: Apr 28 2023 | 11:24 PM IST

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