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India probes possible misappropriation of incentives by EV makers


NEW DELHI – India is investigating possible embezzlement of incentives given to electric vehicle (EV) manufacturers under a 100 billion rupees ($1.21 billion) scheme to promote faster adoption, heavy industry minister told parliament on Tuesday.
Complaints have been filed against 12 electric vehicle and parts manufacturers, including Anh Hung Electric Vehicle Company Limited and Okinawa Autotech Pvt Ltdfor violating program instructions, Mahendra Nath Pandeyheavy industry minister said.
Other companies are Benling India Energy and Technology Pvt Ltd, Okaya Ev Pvt Ltd, Jitendra New Ev Tech Pvt Ltd, Greaves Electric Mobility Pvt Ltd, Revolt Intellicorp Pvt Ltd, Kinetic Green Energy & Power Solutions Ltd, Avon Cycles Ltd, Lohia Auto Industries, Thukral Electric Bikes Pvt Ltd and Victory Tram Pvt . International Co., Ltd
Neither company immediately responded to Reuters’ request for comment.
Pandey said all claims are being re-verified by the agencies, while two electric vehicle manufacturers have been suspended from receiving incentives under the scheme after reviewing the claims. He did not name the two companies.
India wants to grow the electric car market from 1% of total car sales, about 3 million units a year, to 30% by 2030.
To that end, the government is compensating electric and hybrid vehicle manufacturers for reducing the purchase price of their vehicles under the Faster Electric Vehicle Production and Adoption Program in India (REPUTATION) programme.
Pandey told parliament that sales of electric vehicles under the program grew from 19,100 in 2019-2020, when the program began, to 442,901 in 2022-23 through December 9, 2022.

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