With electric two-wheeler (E2W) manufacturers agreeing to reimburse consumers for the off-board chargers, the government is planning to release the halted subsidy of Rs. 1100 crore to them. Which defaulter received the highest payout? 

Solution

With electric two-wheeler (E2W) manufacturers agreeing to reimburse consumers for the off-board chargers, the government is planning to release the halted subsidy under the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME) II to them.    Of the Rs 1,110 crore under suspension since the Ministry of Heavy Industries (MHI), Rs 823 crore will be released to four defaulters — Ather Energy, Ola Electric, TVS, and Hero MotoCorp’s Vida.      Ola, which will receive Rs 367 crore, is in line to get the highest payout from the MHI. It will be followed by around Rs 275 crore for Ather. TVS is likely to get Rs 153 crore, while the subsidy bill to be settled for Hero MotoCorp will be Rs 28 crore.    The remaining Rs 287 crore will be released once the companies submit the details of the requirements.