China recovers 2.3 billion yuan from EV cheaters
China has recovered 2.3 billion yuan ($333 million) from companies that cheated a subsidy program to promote sales of electric vehicles, Finance Minister Xiao Jie said Tuesday.
Last year, the finance ministry concluded its investigation into the cheating scandal, and dozens of companies have been accused of wrongfully obtaining subsidies.
The ministry launched an investigation of EV manufacturers in 2015 after media reports that automakers had engaged in rampant cheating to qualify for subsidies.
So far, 11 Chinese manufacturers and Zhengzhou Nissan -- a joint venture between Nissan Motor Co. and Dongfeng Motor Corp. -- have been punished for inflating sales and selling substandard products.
Chinese companies that have been disciplined include nine bus makers and one passenger vehicle manufacturer, Lifan Industry Co. The bus makers were cited for selling vehicles with batteries that had less range than advertised.
The ministry launched an investigation of EV manufacturers in 2015 after media reports that automakers had engaged in rampant cheating to qualify for subsidies.
So far, 11 Chinese manufacturers and Zhengzhou Nissan -- a joint venture between Nissan Motor Co. and Dongfeng Motor Corp. -- have been punished for inflating sales and selling substandard products.
Chinese companies that have been disciplined include nine bus makers and one passenger vehicle manufacturer, Lifan Industry Co. The bus makers were cited for selling vehicles with batteries that had less range than advertised.
