China recovers $333 million from companies cheating green car subsidies: Xiao Jie

by SpeedLux
Xiao Jie

China has recovered 2.3 billion yuan ($333 million) from firms that cheated an aid program to promote green energy vehicles, the country’s Finance Minister Xiao Jie told a briefing on Tuesday.

China’s central government has invested billions in aids to strongly promote battery electric and plug-in hybrid automobiles, intending to cut metropolitan air contamination and motivate domestic automakers to leapfrog international competitors in automotive technology.

In 2016, the finance ministry concluded its examination into the cheating scandal, with lots of companies becoming called for wrongfully getting subsidies.

Automakers, primarily coach bus makers, were discovered to have utilized different methods to cheat the program, consisting of fabricating production and sales completely, offering cars to their own leasing business and seeking aids for automobiles that did not fulfill minimum technical requirements.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

SpeedLux

SpeedLux is a high-authority automotive blog providing the latest automotive news and reviews. SpeedLux covers everything related to cars, bikes, and motorcycles, from news and reviews, to troubleshooting guides, tips and tricks, and more. SpeedLux was born in 2009 and we have over 20,000 articles published on our blog. We thank all our readers, as well as our partners, without whom we could not have reached this level.

Subscribe

©2009 – 2024 SpeedLux – Daily Automotive News and Reviews. All Right Reserved.