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Four EV firms deposit ₹129 crore with the center for pending funds.


Last Update 13 October 2023

Ola Electric, Ather Energy, TVS Motor Company, and Hero MotoCorp have deposited ₹129.30 crore with IFCI Ltd, part of the ₹312.42 crore in total refunds they owe to e2w buyers. Currently, ₹183.15 crore has been refunded to customers. Upon companies providing proof of reimbursement to IFCI, the funds held by IFCI will be released to them, as per a senior official from the heavy industries ministry.

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