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The State Council has vowed to tighten pricing supervision and phase out outdated capacity after steep discounts squeezed margins and pitted factories against their dealers and suppliers.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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California lawmakers have fast-tracked a redistricting plan giving Democrats a potential five-seat gain in Congress, with Governor Gavin Newsom signing the measure on Thursday to counter Republican efforts in Texas.
The U.S. National Guard has been deployed across Washington, D.C. following President Trump’s declaration of a public safety emergency, as federal authorities continue efforts to reduce crime and secure the capital.
Adidas executives personally visited a small Indigenous town in southern Mexico to apologize for a shoe design criticised as cultural appropriation, pledging future collaboration to respect local heritage.
A powerful eruption at Japan’s Shinmoedake volcano sent an ash plume more than 3,000 metres high on Sunday morning, prompting safety warnings from authorities.
According to the German Research Centre for Geosciences (GFZ), a magnitude 5.7 earthquake struck the Oaxaca region of Mexico on Saturday.
The UK is gearing up for Exercise Pegasus 2025, its largest pandemic readiness test since COVID-19. Running from September to November, this full-scale simulation will challenge the country's response to a fast-moving respiratory outbreak.
Honduras has brought back mask mandates as COVID-19 cases and a new variant surge nationwide.
Kuwait says oil prices will likely stay below $72 per barrel as OPEC monitors global supply trends and U.S. policy signals. The remarks come during market uncertainty fueled by new U.S. tariffs on India and possible sanctions on Russia.
Israel will begin immediate negotiations for the release of all hostages held in Gaza, Prime Minister Benjamin Netanyahu said Thursday, while maintaining military pressure on Gaza City.
Azerbaijan’s SOCAR will invest $7 billion in Türkiye’s petrochemical sector, reinforcing its role as the country’s largest foreign investor.
Iran’s Foreign Minister Abbas Araghchi has ruled out imminent nuclear negotiations with the United States but said talks with the European powers and the International Atomic Energy Agency (IAEA) are planned for coming days.
Israel has given final approval for a highly controversial settlement project in the occupied West Bank, a move that critics say would effectively sever the territory and deal a severe blow to the prospects of a future Palestinian state.
Türkiye is stepping up as a key player in efforts to end the Russia-Ukraine war. President Recep Tayyip Erdoğan, NATO chief Mark Rutte, and senior Turkish officials all emphasized Ankara’s key role in promoting lasting peace.
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