Electric 2-wheeler firms suffer over Rs 9,000 cr loss after subsidies stop
Seven electric two-wheeler companies have suffered a cumulative loss of over Rs 9,000 crore on account of unpaid dues and loss of market after their subsidies were stopped last year, the Society of Manufacturers of Electric Vehicles (SMEV) said on Wednesday.
These companies have also been directed by the govt to refund the subsidies availed by them.
The audit by SMEV’s chartered accountants indicates the total, cumulative damages to affected companies could account for over Rs 9,000 crore on a conservative basis, it noted.
