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hero electric: Hero Electric taps investor GII, credit funds to raise ₹550 cr

The development comes at a time when Hero Electric has been facing pressure on operations with the Ministry of Heavy Industries stalling disbursal of subsidies under FAME II (Faster Adoption & Manufacturing of Electric Vehicles) in FYFY22 after receiving anonymous emails alleging that several firms including Hero Electric were claiming subsidies under the scheme without meeting the Phased Manufacturing Plan norms meant to increase indigenisation, investments and employment in India. ....

Naveen Munjal , Ministry Of Heavy Industries , Hero Electric , Gulf Islamic Investments , Islamic Investments , Heavy Industries , Faster Adoption , Electric Vehicles , Phased Manufacturing Plan , Ola Electric , Okinawa Autotech , Revolt Motors , Benling India , Lohia Auto , Amo Mobility , Tvs Motor , Hero Motocorp ,