Two of China’s biggest electric-vehicle makers may have to return a combined 373 million yuan (about $53 million) in state aid after a government audit said nearly 22,000 cars sold up to 2020 should never have qualified for clean-energy incentives.
A Ministry of Industry and Information Technology (MIIT) review found that 21,725 vehicles received subsidies totalling 864.9 million yuan (about $121 million). Chery Automobile accounted for 7,663 ineligible cars and BYD for 4,973, together making up “nearly 60 %” of the improper claims, according to documents released last month.
While the papers did not set penalties, Beijing’s long-standing rule requires manufacturers to repay funds if models fail to meet mileage or technical standards. Industry analysts say that could deepen the financial strain on carmakers already battling a protracted price war and surplus production capacity.
China showered the sector with incentives between 2009 and 2022 to spur adoption of electric, plug-in hybrid and fuel-cell vehicles. Sales of such models have outstripped petrol-powered cars each month since March, MIIT data show.
The State Council has vowed to tighten pricing supervision and phase out outdated capacity after steep discounts squeezed margins and pitted factories against their dealers and suppliers.
Local authorities are now extending the subsidy audit to 2021 and 2022 claims, raising the possibility of further repayments across the industry. BYD and Chery did not respond to Reuters requests for comment, and the MIIT has yet to say when – or if – any money must be returned.
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Australia booked its place in the FIFA World Cup 2026 Round of 32 after a tense goalless draw with Paraguay. Already-eliminated Türkiye ended its campaign on a high with a dramatic 3-2 win over group winners the United States.
Burkina Faso has severed diplomatic relations with France, widening a years-long rupture with its former colonial ruler and marking the latest diplomatic break between France and military-led governments in the Sahel.
The United States has seized nearly 400 internet domains accused of illegally streaming World Cup matches, in what officials described as a major effort to disrupt international piracy networks profiting from the tournament’s global popularity.
An earthquake of magnitude 6.9 struck Japan's northeast coast on Thursday, but no tsunami warning was issued, no injuries were immediately reported and no irregularities were found at nuclear facilities, the authorities said.
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The U.S. Senate rejected a resolution on Wednesday that would have directed President Donald Trump to remove U.S. forces from hostilities against Iran unless Congress formally authorised military action.
The Kremlin has denied a Wall Street Journal report claiming Moscow is pressuring Belarus to support an expanded Russian military campaign in Ukraine.
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The UN's International Maritime Organization has paused escort operations through the Strait of Hormuz after a cargo ship was reportedly attacked near Oman, with two U.S. officials accusing Iran of the attack.
Kazakhstan has not received an official request from Russia for petrol supplies, Energy Minister Yerlan Akkenzhenov said, as fuel shortages and sales restrictions in Russia raise concerns over fuel supplies across Central Asia.
Iran's Ministry of Foreign Affairs on Friday (26 June) condemned as "interventionist, irresponsible and provocative" a statement issued following a joint meeting of foreign ministers from the U.S. and the Gulf Cooperation Council (GCC) in Manama, Bahrain.
Azerbaijan Airlines (AZAL) has taken delivery of its first Airbus A321neo, marking another milestone in the carrier's long-term fleet modernisation programme aimed at improving efficiency, expanding capacity and enhancing the passenger experience.
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