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China re-opens electric vehicle subsidies scheme to six companies
April 19, 2017 / 1:31 PM / 8 months ago

China re-opens electric vehicle subsidies scheme to six companies

BEIJING, April 19 (Reuters) - Six electric vehicle manufacturers, including Zhengzhou Nissan Automobile Co , the Sino-Japanese joint venture, are once again eligible to receive subsidies, China’s Ministry of Industry and Information Technology said in an announcement on Wednesday.

Other manufacturers included in the notice are SAIC Tangshan Car Ltd, the maker of energy-saving buses, and China Youth Car Group, according to a notice published on the Ministry’s website.

China’s central government has paid vehicle manufacturers billions of yuan to subisidise sales of electric and plug-in hybrid vehicles, aiming to cut urban air pollution and help domestic companies overtake foreign rivals in further developing electric vehicle technologies.

But some companies, mainly coach and bus makers, were found to have used various methods to cheat the subsidy scheme, including fabricating production and sales figures, selling cars to their own leasing companies and seeking subsidies for vehicles that did not meet minimum technical requirements.

Last month China’s Finance Minister Xiao Jie said that the government had recovered 2.3 billion yuan ($334 million) from companies that cheated. ($1 = 6.8845 Chinese yuan renminbi) (Reporting By Matthew Miller; Editing by Greg Mahlich)

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