As per media reports pertaining to Fame-2 Subsidies as applicable to Greaves Electric Mobility Pvt Ltd (a subsidiary of Greaves Cotton), Fame-2 certificates issued to GEMPL for the products Magnus EX and Zeal EX have been renewed on September 30, 2022 post visit by the ARAI authorities on August 29, 2022.
As per media reports, the central government has suspended incentive payments to Hero Electric and Okinawa for not complying with the requirement for localisation of components. The Centre has also asked Greaves Cotton's Ampere, which are getting responded to by GEMPL and Fame-2 certificates have been renewed on September 30, 2022. The incentives will continue for GEMPL. The incentives were being given under the Rs 10,000 crore FAME-II scheme.
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