Ola, Ather, Hero & TVS To Repay 400+ Crores to Customers

The Electric two-wheeler companies, such as Ola Electric, Ather Energy, Hero MotoCorp, and TVS Motor Company, reimburse the cost of portable chargers to their existing customers in India. The total amount of reimbursement is over Rs. 400 crore. Ola Electric will repay Rs. 130 crores to over one lakh existing customers. The Ministry of Heavy Industries notifies that Ather Energy will reimburse Rs. 140 crores to its 95,000 consumers. 

Reimbursement to 87,000 Existing Owners!

TVS Motor Company will return Rs. 15.61 crores to about 87,000 existing owners of its iQube range of electric scooters. In contrast, Hero MotoCorp will reimburse Rs. 2.23 crore to the owners of its Vida V1 electric scooter. The companies made this move to promote electric mobility and make it more accessible to people.

Ola Electric has announced an Rs. 130 crores reimbursement to over one lakh existing S1 Pro series electric scooter owners who bought the model until March 30, 2023. This move aims to boost customer confidence in Ola's electric vehicles and promote electric mobility adoption in India. Ola Electric is currently the best-selling electric scooter brand in the country, and in April 2023, it recorded over 30,000 unit sales.

In an official statement, Ola Electric stated that it is committed to putting its customers first. The company has decided to reimburse the charger monies to all eligible customers, setting aside technicalities. This move aims to demonstrate Ola's commitment to the electric vehicle revolution, strengthen trust, and add more value for its customers.

Under the FAME scheme, the Ministry of Heavy Industries receives several complaints regarding the execution of subsidies by electric two-wheeler manufacturers. It was alleged that they were retailing portable chargers separately at a high cost, which was supposed to be included in the electric vehicle's total selling price. 

The MHI responded quickly by investigating these issues through testing agencies. The decision by Ola Electric, Ather Energy, Hero MotoCorp, and TVS Motor Company to reimburse the cost of portable chargers to their existing customers is a result of this investigation.

Who Can Seek Reimbursement?

As per the announcement made by the Company, customers who bought Ather 450X until April 12, 2023, are eligible for reimbursement. Similarly, customers who purchased the iQube S EV between May 2022 and March 2023 will also be eligible for reimbursement. 

Hero MotoCorp has also stated that it will return the money imposed for the portable chargers of Vida V1 Plus and Vida V1 Pro models to the consumers who bought them until March 2023.

Did you check Electric Two-Wheeler Sales Report for April 2023: Dip in Overall Sales, But Ola Sales Rises?

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