In response to a media report, the Severe Fraud Investigation Workplace (SFIO) has raided the premises of those firms over allegations of irregularities in subsidies price about Rs 270 crore. The investigation is a part of a crackdown on EV producers who allegedly misused the scheme by violating guidelines. FAME II scheme was launched in 2019 to advertise electrical automobiles. On this, incentives price about Rs 10,000 crore have been provided to producers to make use of elements made within the nation for EVs. On this investigation it was discovered that some EV firms didn’t comply with this rule. These firms had used elements imported from China.
“These three firms had falsely submitted tips to the Heavy Industries Ministry to say subsidy. This was later discovered to be incorrect and false,” the SFIO mentioned. These three firms had used banned elements underneath FAME II for manufacturing EVs. The Heavy Industries Ministry had additionally investigated the declare of subsidy with out following the Phased Manufacturing Plan (PMP) guidelines. The ministry had obtained some nameless emails alleging that many EV producers have been taking subsidies by violating the principles.
The SFIO, which comes underneath the Ministry of Company Affairs, has seized information, ledgers and another materials as proof throughout the raid. Additional investigation is being finished on this matter. The federal government might blacklist such EV makers who violated the principles in FAME II for the upcoming FAME III scheme.
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Electrical Automobiles, Manufacturing, Subsidy, Battery, Market, Demand, Authorities, Hero Electrical, Manufacturing facility, Okinawa, Electrical Two Wheeler, Incentives, China, Investigation
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