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Mobility
Key Takeaways
On October 12, reports surfaced that Ather Energy, Ola Electric, TVS Motor, and Hero MotoCorp had collectively deposited Rs 129 crore with the government. This follows on from a government probe earlier this year, which found that the EV two-wheeler manufacturers had effectively gamed the government’s Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles, or FAME-II, scheme.
The four companies were found to have mispriced their EVs by billing customers for the chargers and software of their vehicles separately. This allowed them to keep the price of their vehicles below Rs 1,50,000 in order for them to qualify for subsidies under FAME-II.
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