CLAIM TO FAME
Chorus grows for angel tax repeal; policy push for EVs
Startup Inc’s calls to do away with angel tax have found support from the government. This and more in today’s ETtech Top 5.
What's draining the juice out of electric two-wheeler makers' battery
Sales of e2Ws plummet due to policy inconsistencies, supply chain issues with Chinese suppliers, and expectations for FAME III rollout, impacting top manufacturers like Hero Electric, Okinawa, and Ampere.
General Catalyst-Venture Highway deal; Sebi clears Ola Electric IPO
Silicon Valley investor General Catalyst has acquired Indian early stage fund Venture Highway. More on this in today’s ETtech Top 5.
Cost of FAME 3: Meet local sourcing norms or face penalty
Companies certifying vehicles for subsidies under FAME 3 - scheduled to be announced in the upcoming budget - will have to undergo a techno-commercial audit twice a year to ascertain they are meeting localisation guidelines. If they come up short, they will have to pay penalties.
Claim to Fame Season 3: When and where to watch | Release date
ABC's popular reality competition, Claim to Fame, is gearing up for its eagerly awaited Season 3, offering viewers another exciting lineup of challenges and surprises
Budget-day release for FAME-III; Indian VCs need to pivot
Measures to boost the sale of electric vehicles are likely to be announced in the upcoming budget. this and more on today’s ETtech Top 5.
- Go To Page 1
Mamie Laverock's family shares updates around surgery, claims body 'shattered' after accident
Hallmark actress Mamie Laverock suffered a five-story fall from a balcony walkway in early May and is still under recovery from the critical injuries suffered due to this mishap.
Hero Electric, Okinawa, Benling could be blacklisted from all govt schemes, say officials
Three electric vehicle makers, Hero Electric, Okinawa, and Benling India, face blacklisting from central schemes for not returning wrongly claimed benefits under the government's FAME-II scheme due to violations of local sourcing requirements by OEMs in 2022.
Does King Charles III have a 3rd son? Aussie man claims to be ‘lovechild’ of Charles & Camilla
Is there a half-sibling in Prince William and Prince Harry's midst? Simon Charles Dorante-Day staunchly maintains so! The Australian is convinced that he is the offspring of King Charles III and his consort, Camilla Parker Bowles. Day was adopted by a couple who were in the employ of the late Queen Elizabeth II and Prince Philip.
Support to three EV 2-wheeler makers may be restored
The government after an initial probe into violation of vehicle localisation norms mandated under the Faster Adoption & Manufacturing of Electric Vehicles in India (FAME India) scheme issued notices for recovery of ₹469 crore subsidy distributed to these companies for sales made between 2020 to 2023.
Companies knowingly violated FAME subsidy scheme, finds panel
The report, submitted by the panel earlier this month, counters findings of an earlier probe by a joint secretary in the Ministry of Heavy Industries (MHI) that said some key terms in the FAME were not clearly defined.
Govt keeping top EV makers accused of FAME subsidy misappropriation out of the new scheme: Report
EV makers face subsidy dispute. EMPS 2024 offers Rs 10,000 per two-wheeler. TVS Motor and Ather show notable sales growth in FY24, while electric vehicle manufacturers experience production decrease amid subsidy conflict.
EV industry needs to learn to live without FAME subsidies: Exponent Energy CEO
Exponent Energy CEO Arun Vinayak told ET that interoperability in charging infrastructure is good, but standardisation is bad.
O.J. Simpson, football star turned celebrity murder defendant, dead at 76
O.J. Simpson, the football star famously acquitted in a 1995 murder trial, died at 76. His life saw triumphs on the field, legal battles off it, and a legacy forever linked to the infamous trial.
Ather will need few more years of external capital, govt subsidies to grow: CEO Tarun Mehta
Tarun Mehta, CEO of Ather Energy, told ET that the company would continue to look for external capital, but that the funds would be used to launch new products and grow the business instead of “handling business cash losses”.
Green light for EV cos to claim subsidy under new scheme
Hero MotoCorp, Bajaj Auto, TVS, Ather Energy, Ola Electric Mobility, and Kinetic Green have been approved to sell two-wheelers and claim subsidies under the Electric Mobility Promotion Scheme (EMPS), 2024. The scheme, which aims to support 372,000 electric vehicles, is a fund-limited initiative from April 1 to July 31, 2024.
Govt may slap recovery suit on 3 companies to get back FAME subsidy
The Centre is considering legal action against Hero Electric, Okinawa Autotech, and Benling India for not repaying the subsidies they wrongly obtained under the FAME scheme to promote electric mobility. Despite multiple attempts, the ministry of heavy industries has been unsuccessful in recovering the disputed amounts. The government may involve investigative agencies like the CBI or Enforcement Directorate for a detailed probe into subsidy misuse and establish criminal intent. The companies face recovery of around ₹330 crore collectively and could be barred from future subsidies.
Localisation, warranty norms stricter in Electric Mobility Promotion Scheme
EMPS replaces the Faster Adoption & Manufacturing of Electric Vehicles in India (FAME II) programme. “The manufacturers’ comprehensive warranty will have to cover the EV battery, the most crucial component of the vehicle, besides ensuring that there are adequate facilities for after-sales service for the life of sold vehicles,” a senior government official told ET.
Meghan Markle's defamation lawsuit: Judge rules in favour of Duchess in legal battle against half-sister Samantha
Meghan Markle has triumphed in a defamation lawsuit brought by her half-sister, Samantha Markle. The court dismissed Samantha's claims, ruling that she failed to provide substantial evidence to support allegations of defamation. Samantha accused Meghan of making defamatory statements in public appearances and interviews, seeking $75,000 in damages. However, the judge concluded that Samantha's objections largely revolved around disagreements with Meghan's opinions rather than factual statements.
Govt denies reports of FAME-II extension beyond March 31: Officials
The Indian government has clarified that it has not extended the FAME-II scheme beyond March 31. There were media reports suggesting a temporary four-month extension till July 31 with a Rs 500 crore outlay, but officials denied the extension and stated that subsidies would be eligible for EVs sold until March 31, 2024, or until funds are available.
Tata, Mahindra, and Ola eye double benefit of Auto PLI and FAME with early approvals
Tata Motors, Mahindra, and Ola Electric are set to benefit from the government's PLI program and FAME-II scheme. These companies have received DVA certificates and can claim PLI sops for eligible sales of certain vehicle models until March 2024.
What is Dermatomyositis? Know about the rare inflammatory condition that claimed ‘Dangal’ star Suhani Bhatnagar’s life at 19
Bhatnagar was being treated at the AIIMS hospital, Delhi. She was admitted on February 7 and passed away on February 16, from several complications. The actress is best known for her luminous portrayal of the younger version of wrestler Babita Phogat in the 2016 blockbuster 'Dangal'.
Is it time for India’s EV sector to drop the crutches of subsidy?
While subsidy cuts may be a roadblock for the EV growth in the short run, manufacturers should take it as an opportunity to reevaluate their production plans for long-term growth.
Centre hikes FAME II allocation, scheme valid till March-end
Subsidies for electric two, three, and four wheelers has been revised to Rs 7, 048 crore, of which Rs 5,311 crore is for electric two-wheelers. An allocation of Rs 4,048 crore has been made for purchasing electric buses and setting up electric vehicle (EV) charging stations.
India to soon unveil new scheme to incentivise EV purchases, expand charging infra
Officials in the Ministry of Heavy Industries (MHI) said on Friday that the allocation of ₹2,671.33 crore under the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME India) Scheme for fiscal 2024-25 will be utilised to subsidise EVs sold till March 31, 2024.
EV makers may get boost with Rs 2,671 crore allocation in interim budget 2024
Sitharaman, in her shortest budget speech since assuming charge as Finance Minister, said the government “will expand and strengthen the e-vehicle ecosystem by supporting manufacturing and charging infrastructure”. Emphasis will be made on bringing more electric buses to reduce vehicular emissions and realise the country’s net-zero targets.
Budget Announcements for EVs: Can Interim Budget get the 'fame' for EVs roaring?
FAME SCHEME In Budget: The Indian budget has a significant impact on the electric vehicle (EV) industry's growth trajectory. With the demand for EVs increasing, policies and support through budget allocations become pivotal for both the industry and consumers. Recent data indicates a soaring demand for EVs, with Tata Motors projecting substantial sales growth. However, challenges persist, including issues related to FAME schemes and the need for consistent policies and standards. The upcoming budget discussions will likely focus on sustaining incentives, funding extensions, and setting new frameworks for EV growth.
‘Koffee With Karan Grand Finale’: Orry reveals he is plotting his own downfall, opens up on how his ‘minions’ keep him in limelight
'Bollywood's BFF' recently made quite a few shocking revelations on the grand finale of the popular talk show 'Koffee With Karan, Season 8'
India's Virender Sehwag, Diana Edulji and Sri Lanka's Aravind D'Silva enter ICC's Hall of Fame
Sehwag: Three cricketing greats and stalwart performers in the history of the game - legendary opener Virender Sehwag, former Indian Test skipper Diana Edulji and Sri Lanka's iconic star Aravinda de Silva are the latest inductees to be added to the ICC Cricket Hall of Fame.
Load More
