In a fresh regulatory action against Ola Electric, the country's largest electric two-wheeler manufacturer, the Automotive Research Association of India (ARAI) has raised new concerns over the company's recent pricing practices.
In an October 8 email to the Bhavish Aggarwal-led company, the association flagged Ola's failure to inform it about a price reduction for its S1 X 2 kWh model before the launch of the 'BOSS' sale. This oversight could affect the model's eligibility for a government subsidy under the PM Electric DRIVE Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme.
ARAI is an automotive testing agency under the Ministry of Heavy Industries.
ARAI provides certification to original equipment manufacturers (OEMs) in accordance with the Central Motor Vehicle Rules and certifies OEMs seeking incentives under various Central government schemes.
In its 'BOSS' sale, Ola Electric slashed the price of its vehicle from 74,999 to ₹49,999. However, the company has declared an ex-factory price of ₹75,001 for this model to ARAI. Based on this price and a battery capacity of 2 kWh, the model is certified to receive a subsidy of ₹10,000.
This story is from the October 14, 2024 edition of Business Standard.
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This story is from the October 14, 2024 edition of Business Standard.
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