Seven electric two-wheeler companies have suffered a cumulative loss of over Rs 9,000 crore on account of unpaid dues and loss of market after their subsidies were stopped last year, the Society of Manufacturers of Electric Vehicles (SMEV) said on Wednesday.
These companies have also been directed by the govt to refund the subsidies availed by them.
The audit by SMEV s chartered accountants indicates the total, cumulative damages to affected companies could account for over Rs 9,000 crore on a conservative basis, it noted.
Several electric 2-wheeler manufacturers, including Hero Electric and Okinawa, want their customers to refund the excess rebate availed by them when purchasing the vehicles.The EV makers, represented by the Society of Manufacturers of Electric Vehicles (SMEV) have submitted a letter to M N Pandey, Minister of Heavy Industries, urging him to look into the possibility of asking customers to return the subsidies to the OEMs.
Electric Two Wheeler Subsidy: Electric two-wheeler makers in India have requested the government to ask customers to pay back excess incentive claimed on purchases of EVs, following allegations of misuse of subsidies. The Society of Manufacturers of Electric Vehicles has suggested that customers who received the incentives should return the rebate to the OEMs.
Electric two-wheeler makers in India have requested the government to ask customers to pay back excess incentive claimed on purchases of EVs, following allegations of misuse of subsidies. The Society of Manufacturers of Electric Vehicles has suggested that customers who received the incentives should return the rebate to the OEMs.
Customers be asked to refund rebate on electric two-wheeler purchases amid subsidy cancellation, says EV makers body orissapost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from orissapost.com Daily Mail and Mail on Sunday newspapers.