Why OLA, Hero, and TVS are Returning Money to Electric Scooters Customers

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Why OLA, Hero, and TVS are Returning Money to Electric Scooters Customers

Why OLA, Hero, and TVS are Returning Money to Electric Scooters Customers

Those who take these vehicles can say thanks to the government if they want.

Companies making electric scooters, such as Ather, OLA, Hero, and TVS, are going to return crores of rupees to their customers (EV makers to return larger costs). Other brands with electric vehicles are also Returning Money to Electric Scooters Customers in the form of refunds. In fact, these companies had allegedly collected huge amounts from their customers in exchange for the charger of the vehicle. But the government stopped this, so now the companies will have to call their users and return the money.

Why OLA, Hero, and TVS are Returning Money to Electric Scooters Customers The Technical Dost will provide the information.

 

Took the wrong advantage of the government scheme (Fame)

FAME is a plan by the Indian government to get more people to buy electric vehicles. To tell completely, Faster Adoption & Manufacturing of Electric Vehicles (FAME). Under this scheme, the Government of India provides a subsidy to the vehicle manufacturing companies. Along with this, there are also many other facilities and perks.

Simply put, an electric scooter doesn’t qualify for the government’s FAME subsidy plan if its retail price is more than Rs 1.5 lakh. Let us tell that the total value of this scheme of government is 10 thousand crore rupees. Vehicle makers have played smartly to take advantage of this plan.

Why OLA, Hero, and TVS are Returning Money to Electric Scooters Customers
Why OLA, Hero, and TVS are Returning Money to Electric Scooters Customers

In fact, the companies kept the prices of their products below Rs 1.5 lakh so they could take advantage of the plan. On the other hand, the company made its customers pay an additional fee for the charger. For your information, let us tell you that the cost of an EV scooter charger is up to Rs 15,000. It was also found that companies charged customers extra money for software updates. Now they are Returning Money to Electric Scooters Customers back. According to the report of Economic Times, four major companies of the country Ola Electric, Ather Energy, TVS Motor, and Hero MotoCorp are involved in this game.

In view of the continuous irregularities being committed by the companies, the government stopped releasing the subsidy. Since then, most companies that make electric cars have made changes and now sell an EV home charger with the car. But this is for only new customers. What will happen to old customers?

Why OLA, Hero, and TVS are Returning Money to Electric Scooters Customers
Why OLA, Hero, and TVS are Returning Money to Electric Scooters Customers

Ola will return 130 crores

No company has said anything yet about this situation. But news sources say that big companies can give customers back the cost of a separate charger so they can use FAME again. People say that Ola Electric and Ather Energy will be hit the hardest by it.

Ola started making electric two-wheelers in 2021 and quickly became one of the most famous companies in the country. Because of how strict the government is, the company will have to give its customers back about Rs 130 crore. The money for the home charger for the S1 and S1 Pro electric bikes can be refunded by the company. At the same time, Ather Energy will have to pay back Rs 140 crore for the charger of its model Ather 450X. TVS Motor and Hero MotoCorp will give back Rs 15.61 crore and Rs 2.23 crore, accordingly.


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