Ola Electric to Refund 130 Crores
According to sources, Ola Electric, the manufacturer of electric two-wheelers, is set to refund around Rs 130 crore to its customers. It is reported that the company has communicated with the Ministry of Heavy Industries that they will reimburse the cost of the off-board charger, in response to a probe into overpricing. This news development comes amidst the government-initiated investigation into the FAME scheme inconsistencies.
Company’s Explanation to ARAI
“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,” a government official told CNBC-TV18.
Bhavish Aggarwal Said
In a recent conversation with CNBC-TV18, Company’s Founder and CEO Bhavish Agarwal stated that the company will comply with the government’s requests and regulations regarding the suspension of subsidies and ongoing probe. Furthermore, the company has confirmed that it is in communication with the government to address and resolve any concerns.