EV Makers to Return Subsidy

2023 • 7min • News • Business


Published On: July 18, 2023 - Electric Vehicle manufacturer Revolt Intellicorp, which is under investigation, has agreed to refund Rs 44 crore, which it had received as a subsidy under the FAME II scheme. The Ministry of Heavy Industries (MHI) has also granted a 10-day extension to Hero Electric for the submission of documents related to the investigation concerning the alleged breach of the Phased Manufacturing Programme (PMP) guidelines under the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME-II) scheme.