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China Collects $333 Million from Green-Vehicle Cheaters
China says it has collected 2.3 billion yuan ($333 million) in fines from domestic manufacturers that cheated on a government incentive program to promote the sale of electric and plug-in hybrid vehicles.
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China says it has collected 2.3 billion yuan ($333 million) in fines from domestic manufacturers that cheated on a government incentive program to promote the sale of electric and plug-in hybrid vehicles.
Finance Minister Xiao Jie tells reporters that the penalties resulted from a lengthy investigation last year. The probe of 90 “new energy” vehicle producers found some producers, mainly busmakers, had falsified production and sales data about “green” vehicles. Others collected subsidies for vehicles that failed to meet required technical standards.
The subsidy program was intended to help improve air quality in China’s largest cities. Investigators eventually cited dozens of manufacturers for cheating to receive payments.
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