Business Standard

Monday, December 23, 2024 | 11:34 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

SMEV offers last ditch solution to government to resolve fame 2 issue

First suggestion, if accepted, would ensure that problems arising from the pandemic or other factors would no longer be considered violative, necessitating the repayment of subsidies to the government

electric scooter
Premium

Surajeet Das Gupta New Delhi

Listen to This Article

In a final attempt to settle the contentious matter stemming from the Department of Heavy Industries’ notice directing 12 electric two-wheeler (e2W) companies to either repay the subsidy or face penal action, the Society of Manufacturers of Electric Vehicles (SMEV) has presented a two-pronged solution.

SMEV has urged the government to extend and defer the 50 per cent localisation deadline, originally set for 2021 as a prerequisite for accessing Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME-II) subsidies, to the third quarter of 2022, by when most players had already surpassed the 50 per cent localisation

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in