Phantom Sales, Faked Papers Found in China EV Subsidy Probe
- China says five electric bus makers cheated government of aid
- Gemsea, Chery unit among those held out as ‘classic cases’
China's EV Subsidy Probe: What Was Discovered?
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China punished five manufacturers of electric vehicles for scamming the government of about $150 million in subsidies in a crackdown aimed at rooting out fraud in the fast-growing industry.
The five companies were highlighted by the government as being “classic cases” unearthed in its probe into the sector, which involved investigations into 90 major new-energy vehicle makers covering 401,000 vehicles. The probe found instances where subsidies were claimed for unsold vehicles and others where automobiles were left idle after companies received payouts.