Mexican Media Brands
Hyundai, Nissan Accused of Cheating on China’s “Green” Subsidies
Chinese investigators say Hyundai and Nissan are among vehicle producers accused of cheating a government program that subsidizes electric and plug-in hybrid vehicles, the official Securities Daily newspaper reports.
#hybrid #legal
Share
Chinese investigators say Hyundai and Nissan are among vehicle producers accused of cheating a government program that subsidizes electric and plug-in hybrid vehicles, the official Securities Daily newspaper reports.
Yesterday the country’s finance ministry announced it has revoked the production license of one electric-bus manufacturer and fined four others for falsifying their output data. The ministry says the companies fraudulently collected 1 billion ($150 million) in subsidies.
The agency’s actions follow a probe of 90 producers and the claimed output of some 401,000 new-energy vehicles. Securities Daily says Hyundai and Nissan are among at least 20 more manufacturers charged with violations. Others on the expanded list are Geely, Jianghuai Automobile and a unit of BYD.
None of the newly identified companies has yet commented on the list, according to Reuters.
RELATED CONTENT
-
Hyundai Shops for a Partner to Make Electric Scooters
Hyundai Motor Co. is looking for a domestic partner to mass-produce the fold-up Ioniq electric scooter it unveiled at last year’s CES show in Las Vegas, a source tells The Korea Herald.
-
GAC, CATL Partner on Two Battery Ventures
Two new battery ventures are being formed in China by domestic carmaker Guangzhou Automobile Group Ltd. and battery giant Contemporary Amperex Technology Ltd.
-
On Ford Maverick, Toyota Tundra Hybrid, and GM's Factory Footprint
GM is transforming its approach to the auto market—and its factories. Ford builds a small truck for the urban market. Toyota builds a full-size pickup and uses a hybrid instead of a diesel. And Faurecia thinks that hydrogen is where the industry is going.