China: BYD and Chery improperly claimed CN¥383m subsidies

China's Ministry of Industry and Information Technology has issued a finding: BYD and Chery improperly claimed CN¥383m (US$53.4m) in electric vehicle subsidies for approximately 13,660 vehicles during 2016-2020, although Chery has issued a statement formally denied any wrongdoing. The nationwide audit examined more than 75,000 vehicles from dozens of manufacturers, identifying total ineligible claims exceeding CN¥864m across the industry.