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    Ministry of heavy industries tells EV makers to share value addition data to avail FAME subsidies

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    Ministry of heavy industries tells EV makers to share value addition data to avail FAME subsidies

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    The government has asked electric vehicle companies who are availing incentives to share data on domestic value addition. According to sources, the heavy industries ministry has told manufacturers that they need to get an auditor to certify the data. The move is aimed at ensuring transparency.

    There have been a lot of complaints about certain EV companies, about their local value addition, about their supply chains, and about how much they are actually localising in India. Therefore, in order to ensure greater transparency,  a circular has been sent by the Ministry of Heavy Industries to all auto companies to comply with if they want these FAME incentives.
    Earlier, if one wanted a FAME incentive, they would have to submit an ARAI certification on their domestic value addition in their electric vehicle once. But now, from September 1 tentatively — every EV company will have to comply with a certain domestic value addition formula and they will have to give domestic value addition compliance for each batch of vehicles they are seeking reimbursements for, subsidies for from the Ministry of Heavy Industries when it comes to FAME.
    This has been put into place for greater checks and balances for companies who are applying for FAME incentives.
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