7 EV Manufacturers Facing Major Losses Due To Unpaid Subsidies

7 Major electric 2-wheeler manufacturers have collectively suffered a major loss of over Rs 9,000 Crores after the subsidies were halted the previous year.

Additionally, the manufacturers have further been asked to refund the previous subsidies they availed.

The companies allegedly did not use u201cMade in Indiau201d components for their production which was a major condition to avail the subsidy benefits.

The 7 manufacturers include - Hero Electric, Ampere EV, Okinawa Autotechu2026..

u2026.Revolt Motors, AMO Mobility, Lohia Auto, and Benling India

In a recent update, the SMEV has asked the ministry to help the mentioned OEMs by creating a Sinking Fund.