EV industry body seeks Parl's intervention in release of pending subsidies

Electric vehicle industry body SMEV on Tuesday appealed to a parliamentary panel to direct the government to release the pending subsidy of Rs 1,200 crore earmarked for the liquidity-hit sector.

In a petition to the Parliamentary Standing Committees on Industry and Estimates, the Society of Manufacturers of Electric Vehicles (SMEV) stated that EV adoption is slowing down due to the financial stress being faced by the industry.

The industry body said the EV segment has been besieged by irritants designed to disturb the momentum of the FAME 2 scheme.

"Now that the country is almost ready with the entire supply chain, the only thing holding up the sector is the Rs 1,200 crore worth of subsidies that have been withheld leading to a serious liquidity crisis in the industry," it said.

The need of the hour is for the government and the industry to work together to resolve issues and put India back on track to meet its electric mobility targets, the petition said.

In December last year, U