Safety certification delay hits EV sales

Subsidies totalling more than ₹1,200 crore are on hold for around a dozen companies, as per a lobby group representing the industry. The government incentive had kept electric vehicle prices competitive with fossil-fuel powered models. Since the subsidy is paid as a reimbursement after the manufacturers sell the vehicles, halting of the payment has affected the working capital of several of these companies, leading them to cut production. The non-disbursal of subsidy has mostly affected electric two-wheeler companies.

from Auto-Industry-Economic Times https://ift.tt/ZJATedE