CLAIM TO FAME
Meet Zarna Garg: Exploring the comedy queen's journey from a housewife to global fame
Zarna Garg, an Indian American comedian, has skyrocketed to fame with her unique blend of humor, targeting the daily quirks of Indian-American life. From winning awards for her screenplay to performing on prestigious platforms like 'The Tonight Show starring Jimmy Fallon,' she's made a mark in comedy. Known for her witty insights and down-to-earth humor, Garg's journey reflects her dedication to bringing Indian humor to global audiences while breaking barriers for female comedians.
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.
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.
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”.
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.
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.
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.
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