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

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

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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

5 min read Last Updated : Apr 28 2023 | 11:24 PM IST

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.