China’s Evergrande EV Ordered to Repay $262mn Subsidies, Faces Asset Seizure
China has ordered the deeply indebted Evergrande conglomerate’s electric car subsidiary to repay $262 million in subsidies for failing to meet its contractual obligations or risk having its assets seized, the company announced on Tuesday. Evergrande, once China’s leading property…
Certificates Granted To 20+ OEMs For Electric Vehicle Subsidies Under EMPS
The Centre has granted certification to over 20 vehicle Original Equipment Manufacturers (OEMs) to participate in the short-term E-Mobility Promotion Scheme (EMPS). According to sources, these 20 companies, including all major two and three-wheeler manufacturers, can now avail incentives under…
China Says EU’s ‘unfair’ EV Subsidies Probe Risks Damaging Ties
China’s ambassador to the EU, Fu Cong, criticized the EU’s probe into Chinese electric vehicle manufacturers, calling it unfair. Cong emphasized China’s cooperation with the investigation to avoid trade measures. He pointed out that the EU also subsidizes its own…
EV Policy Will be Put up for Cabinet Approval in a Few Days
People waiting to avail of the subsidy on e-vehicles purchased in January will soon get the benefits as the existing policy is expected to be extended for another three months. Officials said the Transport Department will put up a cabinet…
Over Rs 5,200 Crore Disbursed As FAME-II Subsidy On Electric Cars, Two-Wheelers
The Ministry of Heavy Industries (MHI) has revealed that electric two-wheelers, three-wheelers and passenger vehicles have availed of Rs 5,228 crore in subsidies under the FAME-II scheme. The government body in its review of 2023 said that so far 11,53,079…
Indian Industry Body Seeks Third Round of EV Subsidies
FICCI has proposed to India’s ministry of heavy industries that the existing Faster Adoption and Manufacturing of Electric Vehicles-II (Fame-2) scheme be extended to Fame-3, the industry body said. FICCI wants the scheme — which expires on 31 March 2024…
BMW Says EU Subsidy Probe Into China-made EVs Could Do More Harm Than Good
The European Union’s investigation into subsidies for China-made electric vehicles (EV) exported to Europe could do more harm than good, BMW’s chief financial officer said on Friday, warning of a potentially big backlash from Beijing. Walter Mertl said he did…
Olaf Scholz Dismisses Fears Of Ev Trade War With China
German chancellor Olaf Scholz played down fears of a potential trade war triggered by the EU’s anti-subsidy investigation into Chinese electric vehicles, while making a strong case for globalised markets with a level playing field for all participants. In his first…
Skoda Plots Sub-Rs 20 Lakh Electric Car For India
The Volkswagen Group has previously signalled its intent to introduce electric vehicles (EV) in India, and now, member company Skoda Auto has confirmed it is plotting a new, affordable battery-powered model for the Indian market. Speaking to car&bike and another…
Our Ev Subsidy Policy Is Due For A Full Overhaul
The need of the hour today is to develop a mobility ecosystem that is sustainable and in harmony with the environment,” said Prime Minister Narendra Modi on Tuesday, addressing the Society of Indian Automobile Manufacturers. So it’s a matter of…
