Four electric two-wheeler manufacturers refund a cumulative Rs 10 crore to buyers: Here's why

Four leading electric two-wheeler manufacturers in India, including the likes of Ola Electric, Ather Energy, TVS Motor Company, and Hero MotoCorp have so far refunded about Rs 10 crore to their customers, out of the cumulative Rs 300 crore they agreed to refund.

The reason for the refund takes us back to May when the Ministry of Heavy Industries, following anonymous complaints, conducted a probe with the help of ARAI, ICAT, and IFCI. It was found that the afore-mentioned OEMs were selling EV chargers and software as add-ons instead of including them in the price of the EVs.


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​The companies had allegedly done so to avail the benefits of the FAMEII subsidies extended by the MHI. Here, we will take a look at the amount refunded by the EV makers, and the total they have agreed to pay.


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Ola Electric, one of the largest electric-vehicle manufacturers, has so far refunded the highest amount at Rs 4.25 crore. The company had agreed to refund a total of Rs 130 crore.


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Bengaluru-based EV maker Ather Energy has reimbursed Rs 3.97 crore of its total refund dues. The company had to refund the highest amount among the four EV makers, which was agreed on Rs 140 crore.


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​TVS Motor Company, which sells the iQube electric scooter in India, has paid back Rs 9 lakh out of the Rs 15.6 crore worth of refund it owes to the Ministry of Heavy Industries.


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Hero MotoCorp introduced its maiden EV, the Vida electric scooter last year. The company has paid back Rs 1.64 crore, clearing more than half of the Rs 2.23 crore it had agreed to refund.


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