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Hero Electric: MHI wants subsidy back
Mint Mumbai
|May 30, 2025
The heavy industries ministry has sought to recover ₹167 crore given as subsidy to Hero Electric Vehicles Pvt. Ltd, according to two people aware of developments in the electric two-wheeler maker's insolvency proceedings.
The ministry last year accused Hero Electric and a few other electric vehicle manufacturers of fraudulently claiming subsidies under the second iteration of the government's Faster Adoption and Manufacturing of Electric and Hybrid vehicles (F
This story is from the May 30, 2025 edition of Mint Mumbai.
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