China's Chery denies allegations of fraudulent subsidy declarations

Reuters
2025/07/12
China's Chery denies allegations of fraudulent subsidy declarations

SHANGHAI, July 12 (Reuters) - China's Chery CHERY.UL denied that it improperly claimed government subsidies for eco-friendly vehicles, according to a statement the automaker posted on Saturday.

An audit by the Ministry of Industry and Information Technology disqualified declarations by Chery and BYD 1211.HK for a combined $53 million in government subsidies for thousands of eco-friendly vehicles sold in the five years to 2020, accounting for nearly 60% of such improper claims.

Chery said it had previously consulted the authorities about the challenges of missing receipts because the cars were sold more than five years ago but the government still advised Chery to declare the cars.

"Our company has truthfully reported to the authorities our failure to collect certificates for end sales; there's no fraudulent act," Chery said in the statement.

(Reporting by Shanghai Newsroom; Editing by Muralikumar Anantharaman)

((Zoey.Zhang@thomsonreuters.com;))

免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。

熱議股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10