Government gives subsidy to promote electric vehicle in the countryImage Credit source: File Photo
The Modi government had started giving fame subsidy to promote electric vehicles in the country. But for almost a year, the government has not transferred the subsidy money to the electric vehicle companies, and the companies are waiting for an important decision of the government in this regard.
In fact, the government had received complaints from whistleblowers about electric vehicle companies wrongly claiming subsidy incentives. These companies claimed subsidy without fulfilling the local sourcing norms. The government had started an inquiry regarding this.
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The government has not yet released Rs 1400 to 1500 crores of FAME-2 subsidy. This subsidy was to be given to two-wheeler electric vehicle companies. Regarding this, many electric 2-wheeler companies say that they are facing the problem of working capital.
Companies say that they have given subsidy to the customers on their behalf, but it has not been paid by the government. The Society of Manufacturers of Electric Vehicles says that 8,46,976 EVs have been sold in 2022-23. This is 2.5 times more than last year, yet 25 percent less than the target of NITI Aayog.
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Waiting for the decision of the government
Where companies are waiting to get subsidy for electric vehicles. At the same time, quoting government officials, ET has reported that the government still wants to support the stake holders associated with the electric vehicle segment and will continue to do so.
Officials told that in the investigation of the government, the companies which are found to follow the rules, those who get a clean chit will be given all the subsidy money. Now the companies are waiting to get a clean chit from the government in the investigation.