The Indian authorities is reimbursing electrical automobile and hybrid automobile producers for decreasing the acquisition worth of their automobiles below the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME) programme.
Complaints had been made in opposition to 12 electrical automobile and components producers, together with Avon Cycles, for violating pointers below the 100 billion rupees ($1.21 billion) programme, Minister for Heavy Industries Mahendra Nath Pandey instructed parliament on Tuesday.
The different firms named by Pandey didn’t reply to Reuters request for remark.
Pandey mentioned two of the 12 firms have been suspended from claiming incentives following the investigation.
Avon Cycles mentioned in an e mail on Thursday that it doesn’t have any two wheeler mannequin coated below the scheme, and its three wheeler fashions that qualify below the programme “fully meet the eligibility criteria”.
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“At present we have presence in low speed category of two-wheelers only, which implies that we do not have any two- wheeler model which is covered under FAME – phase 2 scheme and hence no subsidies have been claimed in two-wheeler segment by ‘Avon Cycles Limited’,” the corporate mentioned in a press release.
“We do have two number three-wheeler models which qualify under FAME – phase 2 scheme which fully meet the eligibility criteria set by the concerned authorities. Also, the sales volumes of these three-wheeler models sold under the stated scheme, so far, have been insignificant.”
India desires to develop its electrical automotive market from 1% of complete automotive gross sales, of about 3 million a yr, to 30% by 2030.