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Society Of Manufacturers Of Electric Vehicles: Loss from sops denied to E2W OEMs estimated at INR 9000 cr; SMEV moots `Sinking Fund for their revival, ET Auto

Society Of Manufacturers Of Electric Vehicles: A cursory audit by SMEV’s chartered accountants estimates the cumulative losses on account of unpaid dues, interest, debt, loss of market share, reputational loss, cost of capital and potential recapitalisation, to be about INR 9,075 crore since the MHI held up their subsidies since 2022.

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