Greaves Debited FAME Subsidies From Dealer Accounts?

An ex-dealer also claims that the company is still selling its electric scooters with FAME II subsidies mentioned on the invoice. According to him, many communications are made to the dealer channel mentioning FAME II openly.

Greaves Electric Mobility debited FAME II subsidies from several dealer accounts, claims Ankur Bansal, who had a Greaves dealership in Meerut, Uttar Pradesh.

“We were told that the Ministry of Heavy Industries was declining our FAME II claims because of some mistake that we were making in filing for sales in the portal. The money was deducted all of a sudden,” he said.

None of the dealers, according to Bansal, have been given a clarification on why the MHI has chosen not to accept their claims for subsidy reimbursement. Bansal added that several Greaves employees maintain that Greaves is still a part of the FAME II scheme.

“Many from the Greaves office in Delhi have told me the company will receive the FAME II subsidies soon. These will be from all the scooters sold so far,” Bansal said.

- Advertisement -

Recently, Greaves Electric Mobility (formerly Ampere Electric Vehicles) said it refunded the around Rs 124 crore subsidy it received under the ₹10,000 crore Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME-II) scheme. Importantly, Greaves Electric Mobility was barred from FAME subsides. Bansal highlighted that the company was earlier selling electric scooters under Ampere brand name.

Greaves Electric Mobility invoice showing FAME II (marked in red)

“In light of our commitment to consumer interests, to avoid protracted litigation, and without admitting to any of the allegations, contentions, or statements made in the notice, Greaves Electric Mobility has refunded to the Ministry of Heavy Industries (MHI) the entire incentive claim of Rs 124 crore approximately, along with the accrued interest, and without prejudice to our legal rights,” the company said in a public statement.

Interestingly, an August 2023 invoice of a Greaves electric scooter, shared by Bansal, shows the FAME II amount mentioned in the same. As of now, there is no update on whether Greaves is still a part of the FAME II subsidy scheme or not.

Additionally, the company circulars to its dealer channels, also shared by Bansal, showcase Fame II subsidies mentioned clearly.

For Bansal, the nightmare started, as he said, when he supported a customer whose Greaves electric scooter broke in two parts. The company terminated Bansal’s dealership by saying he was siding with the end consumers and “should not have shared company contacts with the consumer.

Essentially, the company debited money from the dealers’ accounts by saying that their FAME II subsidies were not being approved due to the mistakes dealers made during the filing process. Bansal adds that most of these dealers were unaware that Greaves was barred from FAME II scheme.

Bank statement showing multiple debits of Rs 27,000 by Greaves Electric, as shared by Bansal.

“We do not know whether they were importing from China or not. But scooters breaking in two parts meant that the quality was not Indian. Greaves needs to pay me Rs 10 lakh (out of 28 lakh, only 18 was paid in May this year). They have been making me run from pillar to post for the past month,” he said.

To his knowledge, at least 15 dealers are asking for such refunds, and the amount ranges from Rs one crore to Rs 10 crore. He also shared PDF of a bank statement from a dealer based in Rajasthan which shows multiple debit entries for Rs 27,000, that the dealer says was debited as FAME II money by Ampere from their accounts.

We have reached out to Greaves Electric Mobility Team about these allegations levelled by an ex-dealer, and will update their inputs as soon as the same are received.

Update 1 (5.50 PM) – Official statement from Greaves, “This story is factually incorrect, and we categorically deny it.  The dealer in question was terminated a few months ago and has since been engaging in a sustained campaign to defame our reputation with malafide intent. We are actively looking into this matter and will not hesitate to take decisive action against the party responsible.”

- Advertisement -
Loading form…
Mukul Yudhveer Singh
Mukul Yudhveer Singh
Mukul Yudhveer Singh is an Editor at EFY. He’s an experienced business journalist who is both an enthusiast and a cynic of technology. Believes in data, as well as hunch-based journalism. He defines journalism as- reporting facts which help the audience take their own decisions, not ones that influence them!

Industry's Buzz

Garuda

Bengaluru Based Airbound Raises $37 Million in Series A Funding to Expand Its Drone...

0
The company targets commercial scale across India, aiming to make aerial logistics cheaper than road transport while laying the foundation for modern aviation.  Indian aerospace...
Solar Panels (Representational Image)

Avaada Electro Files UDRHP for ₹7,600 Crore IPO 

0
The proposed IPO includes a ₹1,600 crore fresh issue, with around ₹1,200 crore earmarked for debt repayment and letter-of-credit obligations.  Avaada Electro has moved closer...
NVIDIA

AM Intelligence to Deploy 9,000 Nvidia Rubin GPUs in Hyderabad 

0
AM Intelligence has ordered 9,000 Nvidia Rubin GPUs for a 30MW Hyderabad AI facility, forming the first phase of its planned 1GW compute-as-a-service network.  Data...

Homegrown IndieSemiC Launches Wi-Fi Module for IP Cameras and CCTV

0
Indian fabless startup offers local manufacturers a seamless, USB-based plug-and-play solution for wireless surveillance integration.  Fabless chip design startup IndieSemiC has launched the “ISC-8188-B”, a...

LOGIC Announces Dedicated Academy to Train Educators

0
LOGIC Academy has so far trained more than 60,000 teachers across 5,000 educational institutions LOGIC has recently announced the launch of LOGIC Academy. This platform...

Learn From Leaders

(L-R) Nikesh Gondchawar, Strategic & Technical Advisor – Robotics Manufacturing; Shrikrushna Kakade, Founder Partner; Nikhil Kakade, Senior Technical Advisor – Robotics & Control Systems, SlightGen Solutions LLP

“A Made-In-India Robotic PCB Soldering System That Automates The Through-Hole Soldering Process!” – Shrikrushna...

0
Electronics manufacturing is complex, and automation often comes at a high cost. To bridge this gap and offer a more affordable solution in India,...
Navdeep Narula, Executive Director, Client and Endpoint Solutions, Ingram Micro, India

“Enterprise Computing Is Shifting From CPU to GPU And Now Toward NPU-Based Systems ”...

0
The shift from CPU to GPU to NPU-based computing is redefining today’s enterprise endpoints. In an exclusive conversation, Navdeep Narula from Ingram Micro discusses...

India’s Robotics Push Opens New Hardware Opportunities

0
How do you build India’s physical AI future when critical robot components still come from overseas? Niqo Robotics reveals where the gaps remain.  India’s push...
Gadhadar Reddy, CEO and Founder, NoPo Nanotechnologies

How A Material Thinner Than Human Hair Could Transform EV Batteries And Electronics –...

0
What if a material 200,000 times thinner than a human hair could transform EV batteries, semiconductors, and advanced electronics? NoPo Nanotechnologies is making that...
Raja Rajeev Kumar, Mentor at IIT Startups, Chairman of the Board of Trustees, LaxmiRamaVarma Holdings International, and Founder and CEO, ChromoSoul Ventures

“Build Strong Startups, and Funding Will Follow”- Raja Rajeev Kumar, IIT Startups, LaxmiRamaVarma Holdings...

0
While AI and software startups attract attention and capital, electronics ventures often struggle for both. Raja Rajeev Kumar from IIT Startups, LaxmiRamaVarma Holdings International...

Startups

(L to R) C2i Semiconductors Founders—Vikram Gakhar, Founder & Director, Mixed Signal; Preetam Tadeparthy, Founder, CTO, VP, Engineering; Ram Anant, Founder & CEO; B.S. Dattatreya, Founder & Director, Power

Bengaluru Startup Targets AI Data Centre Power Delivery

0
C2i is building power systems that can help AI servers use electricity more efficiently and reliably. Two friends, Ram Anant and Preetam Tadeparthy, were working...
Akshar Vastarpara, Founder and CEO, Vicharak

“Our SBCs Are Designed As Complete Edge-Computing Platforms That Combine Everything On A Single...

0
An Indian startup builds affordable edge AI boards for robots, drones, and industry, positioning them as Raspberry Pi alternatives. In an EFY interview with...
(L-R) Sri Kusulu Devalla, Co-Founder and Hetendra Singh Rathore, Founder, Segritech

“We don’t just sort fruit; we match every quality grade with the right buyer.”...

0
An agritech startup has developed an AI-powered machine that sorts and grades fruits directly on farms, helping reduce post-harvest losses by connecting produce with...
Dr Naveen Yanduru, CEO, Axiro Semiconductor Private Limited

“India Can Lead In IP—If It BacksIts Own Builders”

0
Axiro Semiconductor designs RF and satellite chips, ships millions worldwide, and retains its startup mindset while tackling complex technical challenges. In a conversation with...
Dr Sanjay Ahuja, Founder and CEO of Cionlabs, India

“We are solving India-specific challenges rather than offering generic ‘black box’ IoT solutions.”

0
From hybrid mesh networking to AI-enabled edge devices, an Indian IoT startup is developing home-grown solutions to improve connectivity, strengthen privacy and support the...