Centre probes possible misappropriation of incentives by EV makers


India is investigating the possible misappropriation of incentives given to electric vehicle (EV) makers under a ₹100 billion ($1.21 billion) programme to promote their faster adoption, the Minister for Heavy Industries told Parliament on Tuesday.

Complaints were made against 12 electric vehicle and parts manufacturers, including Hero Electric Vehicles Pvt Ltd. and Okinawa Autotech Pvt. Ltd., for violating guidelines under the programme, Mahendra Nath Pandey, the Minister for Heavy Industries, said.

Other companies were Benling India Energy and Technology Pvt. Ltd., Okaya Ev Pvt. Ltd., Jitendra New Ev Tech Pvt. Ltd., Greaves Electric Mobility Pvt. Ltd., Revolt Intellicorp Pvt. Ltd., Kinetic Green Energy & Power Solutions Ltd., Avon Cycles Ltd., Lohia Auto Industries, Thukral Electric Bikes Pvt. Ltd. and Victory Electric Vehicles International Pvt. Ltd.

None of the companies responded immediately to a Reuters request for comment.

Mr. Pandey said all complaints were being re-verified by agencies, while two EV makers had been suspended from taking incentives under the scheme after examination of complaints. He did not name the two companies.

India wants to grow its electric car market from 1% of total car sales, of about 3 million a year, to 30% by 2030.

To achieve that, the government is reimbursing EV and hybrid vehicle makers for reducing the purchase price of their vehicles under the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME) programme.

Mr. Pandey told Parliament that the sale of electric vehicles under the programme had increased from 19,100 in 2019-20, when the scheme started, to 442,901 in 2022-23 up to December 9, 2022.

Source link

Leave a Response