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Center investigates possible misuse of incentives by EV makers – Mintpaisa

India is investigating the possible misuse of incentives given to manufacturers of electric vehicles (EVs) under a ₹100 billion ($1.21 billion) scheme to promote their faster adoption, the Minister for Heavy Industries in Parliament.

Complaints have been filed against 12 manufacturers of electric vehicles and parts, including Hero Electric Vehicles Pvt Ltd. and Okinawa Autotech Pvt. Ltd., for violating program guidelines, said Mahendra Nath Pandey, Minister of Heavy Industries.

The 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.

Neither company responded immediately to a request for comment from Reuters.

Mr Pandey said all complaints were re-checked by the agencies, while two electric vehicle makers were suspended from taking incentives under the scheme after complaints were reviewed. He did not name the two companies.

India aims to grow its electric car market from 1% of total car sales, or around 3 million per year, to 30% by 2030.

To achieve this, the government is reimbursing manufacturers of electric and hybrid vehicles for the reduction in the purchase price of their vehicles under the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME) scheme.

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

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