The Society of Manufacturers of Electric Vehicles (SMEV) on Thursday reached out to the Ministry of Finance , proposing a Rs 3,000-crore rehabilitation fund to revive and sustain the operations of original equipment manufacturers (OEMs), which have been affected by the blocking of money supposed to be disbursed under the Faster Adoption and Manufacturing (and Hybrid) Electric Vehicles (FAME).
The industry body has maintained the subsidies withheld and due to various electric two-wheeler (E2W) manufacturers amount to over Rs 1,200 crore.
“The industry has been awaiting the funds for over 18 months exclusive of the interest,” the SMEV said.
