ADVERTISEMENT
China's EV Subsidy Probe: What Was Discovered?
China's EV Subsidy Probe: What Was Discovered?
19 Mar 2017, 01:30 PM IST
Sept. 9 -- 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 government revoked the production license of Gemsea Coach, a Suzhou, China-based bus maker, and ordered the company to pay back all of the subsidies it received last year, according to a statement from the Ministry of Finance. Bloomberg's Craig Trudell reports on "Trending Business."
Get live Stock market updates, Business news, Today’s latest news, Trending stories, and Videos on NDTV Profit.
ADVERTISEMENT