Compliant with localisation norms under FAME II: Okinawa MD Sharma

Co submitted requisite documents; awaiting meeting with MHI; at an industry level subsidy worth Rs 1,500 cr held up

As the FAME II sops for electric two-wheeler makers are on hold and investigations are on against the manufacturers to ascertain whether or not they were non-compliant with the localisation norms, Gurgaon based Okinawa Autotech, one of the early entrants into this space, says that they have submitted requisite documents with the government and are now awaiting a resolution.

At the industry level, about Rs 1,500 crore worth of subsidies are on hold by the government, hitting the working capital requirements of the manufacturers, until the investigation is over to show their compliance. The pre-condition for FAME II subsidy disbursements