Ola Electric to refund Rs 130 crore to customers for EV charger – EQ Mag

With an eye on electric cars after scooters, Ola to launch Futurefoundry

now viewing

Ola Electric to refund Rs 130 crore to customers for EV charger – EQ Mag

May 2, 2023 Anand Gupta

Small solar power firms eclipsed in India’s renewable energy race

now playing

Madhav Infra Projects bags INR 330 Crore solar project in Surat - EQ

May 2, 2023 Anand Gupta

now playing

Sungrow Celebrates Ten Years of Significant Milestones in the Indian Market - EQ

May 2, 2023 Anand Gupta

NHPC to form joint venture with JKSPDCL to set up 850-MW Ratle hydropower project in J&K

now playing

Nepal Aims to Export 10,000 MW Hydropower to India in Next Decade to Promote Renewable Energy - EQ

May 2, 2023 Anand Gupta

multibagger-ireda-shares-climb-5-on-signing-green-power-co-finance-deal-with-indian-overseas-bank

now playing

IREDA stresses innovative financing solutions for India’s transition to renewable energy - EQ

May 2, 2023 Anand Gupta

Mahindra Group and Ontario Teachers’ Co-Sponsor India’s Largest Renewable Energy Listed InvIT with Offer Size of ₹2262.8 Crore ( $273 Mn)

now playing

G7 falling short of renewable energy capacity tripling goal: Think-tank - EQ

May 2, 2023 Anand Gupta

RERC (Terms and Conditions for Determination of Tariff) (First Amendment) Regulations, 2019

now playing

India expects annual power output to grow at fastest in over a decade - EQ

May 2, 2023 Anand Gupta

AP bets on renewable energy to meet goals

now playing

'At least $12 trn needed for tripling renewable energy capacity by 2030' - EQ

May 2, 2023 Anand Gupta

49056-002: Pakistan: Access to Clean Energy Investment Program

now playing

CESC acquires company engaged in 300 MW solar park under construction in Rajasthan - EQ

May 2, 2023 Anand Gupta

Order- Seeking for the Condonation of Delay of 273 days in filing the Appeal as against the Impugned Order by CERC

now playing

Petition for seeking declaration of change in law event and consequent relief on account of increase in compensation for acquisition of land for Jhajjar Power Limited’s - EQ

May 2, 2023 Anand Gupta

now playing

Petition of Central Electricity Regulatory Commission (Connectivity and General Network Access to the Inter-State Transmission System) Regulations - Reliance Industries Limited (RIL) - EQ

May 2, 2023 Anand Gupta

Electric two wheeler manufacturer Ola Electric, will be reimbursing approximately Rs 130 crores to customers. Sources have told CNBC-TV18 that in response to the probe initiated by Ministry of Heavy Industries for overpricing, the company has informed the government they will reimburse the cost of the off board charger.

“The Automotive Research Association of India (ARAI) will not be taking any further action against Ola Electric, as the company announced in its letter to ARAI dated April 30, 2023 that, on their own volition, they will reimburse the price (approximately Rs. 130 crore) of the off-board charger to all customers who have bought the off-board charger as an accessory when purchasing an Ola S1Pro model scooter from FY 2019-20 until March 30, 2023”, said a government official.

When asked about the government’s probe and suspension of subsidies, Ola Electric Founder and CEO Bhavish Agarwal had recently told CNBC-TV18 that the company will do whatever the government asks them to do. When asked about the latest developments, the company said that Ola Electric remains in touch with the government to resolve all issues.

Hero MotoCorp, TVS Motor Company, Ather Energy and Ola Electric have been under scrutiny by Ministry of Heavy Industries following whistleblower complaints. According to the complaints, all four companies were charging customers over and above the Rs 1.5 lakh threshold under the central government’s FAME scheme for availing the subsidies. The companies had earlier claimed that the additional cost was for additional software features and the off board charger. Both Ather Energy and Ola Electric have also reduced the cost of their electric scooters to meet the scheme’s eligibility criteria.

Ola Electric has recently brought down the cost of their electric scooter from Rs 1.39 lakh to Rs 1.24 lakh, inclusive of the cost of charger and software features. Ola Electric is also likely to submit a duly certified statement to ARAI when all customers have received amount due to them.