Lending body proposes battery number inclusion in EV RCs

Quick Summary:

Fraudsters are purchasing electric vehicles through financing, then replacing the new battery with a used one and selling the new battery.

They subsequently default on the loan, returning a significantly devalued vehicle.

To combat this, the Finance Industry Development Council has requested that the government include battery numbers on vehicle registration certificates.

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Article Details

Author / Journalist: Supriya Roy

Category: EconomyBusiness

Markets: India

Topics: EV battery theft Business news Finance Industry Development Council Battery number inclusion in EVs Electric vehicle fraud EV registration certificate

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-23 @ 02:57:19 (13 hours ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 410 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 24585428

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Main Topics: EconomyBusiness

Official Website: timesofindia.indiatimes.com

Update Frequency: 12 posts per day

Year Established: 1838

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Coverage Areas: India

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