tvs motor: Ather Energy defers Rs 26 crore PM E-DRIVE claims amid magnet shortage

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Electric two-wheeler maker rel=”dofollow” href=”https://economictimes.indiatimes.com/ather-energy-ltd/stocks/companyid-1965014.cms” target=”_blank”>Ather Energy has deferred claims worth around Rs 26.2 crore under the government’s PM E-DRIVE scheme for about 52,500 scooters, following a global shortage of heavy rare earth magnets caused by China’s export restrictions.

The Bengaluru-based company said in a filing to stock exchanges that it had to temporarily adjust traction motor manufacturing, deviating from domestic sourcing rules under the Phased Manufacturing Programme (PMP).

Ather said it is in discussions with the Ministry of Heavy Industries (MHI) to seek a…



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tvs motor: Ather Energy defers Rs 26 crore PM E-DRIVE claims amid magnet shortage



Electric two-wheeler maker rel=”dofollow” href=”https://economictimes.indiatimes.com/ather-energy-ltd/stocks/companyid-1965014.cms” target=”_blank”>Ather Energy has deferred claims worth around Rs 26.2 crore under the government’s PM E-DRIVE scheme for about 52,500 scooters, following a global shortage of heavy rare earth magnets caused by China’s export restrictions.

The Bengaluru-based company said in a filing to stock exchanges that it had to temporarily adjust traction motor manufacturing, deviating from domestic sourcing rules under the Phased Manufacturing Programme (PMP).

Ather said it is in discussions with the Ministry of Heavy Industries (MHI) to seek a…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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