China Hammers out Tougher Subsidy Plan for Electric Vehicles
(Beijing) — The boom for China's electric vehicle makers may be nearing an end as regulators crack down on abuse of generous subsidies and draft tougher policies on incentives.
The proposed new regulations follow an eight-month nationwide investigation that found widespread cheating on subsidy programs by electric-vehicle makers. Investigators found that some companies collected hundreds of millions of yuan by inflating the number of vehicles they made. Sometimes they cashed in before making any electric autos at all.
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