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HomeBusinessTop 4 Electric Scooter Makers Refund ₹10 crore to Buyers.

Top 4 Electric Scooter Makers Refund ₹10 crore to Buyers.

The four Indian manufacturers of electric two-wheelers that agreed to reimburse customers for the charger and exclusive software that were supplied separately have so far paid back only a small portion of the more than Rs 300 crore they were expected to—roughly Rs 10 crore.

Ola Electric, Ather Energy, TVS Motor, and Hero MotoCorp were discovered to be pricing their charger and proprietary software as an add-on to their electric scooters earlier this year, according to a government investigation into consumer concerns. If an electric vehicle (EV) producer applies for funding through the government’s FAME (faster adoption and production of hybrid & electric vehicles) programme, this is regarded as a norm violation.

EV two-wheelers that sell for more than Rs 1.50 lakh per unit are not eligible for benefits under the Rs 10,000-crore plan, according to the FAME policy document.

Also read, Gangwal family to sell a portion of IndiGo’s stake worth $450 million via block deal on Wednesday.

Electric Chargers Prices to be refunded to customers:

Following an investigation by the ministry of heavy industries in May of this year, the four businesses had agreed to reimburse clients who had been charged separately for the chargers. The companies were had to refund a total of Rs. 305.64 crores.

According to government records, Ola Electric has repaid Rs. 4.25 crore of its total refund obligations, while Ather Energy has repaid Rs. 3.97 crore. While TVS Motor has returned Rs 9 lakh, Hero MotoCorp has so far refunded Rs 1.64 crore. Official estimates state that Ather Energy, Ola Electric, TVS Motor Company, and Hero MotoCorp must all refund a total of Rs 157.78 crore, Rs 130 crore, Rs 15.6 crore, and Rs 2.26 crore, respectively.

While these businesses have pointed to the lack of consumer bank account information as one of the causes for the long refund process, officials have downplayed it, claiming that information regarding buyers and their phone numbers is available and reimbursements can be expedited.

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