The denial follows an audit by the Ministry of Industry and Information Technology that disqualified declarations by Chery and BYD for a combined $53 million in subsidies covering thousands of vehicles sold between 2015 and 2020.
“Our company has truthfully reported to the authorities we did not collect certificates for end sales; there’s no fraudulent act,“ Chery said in a statement.
The government has not accused Chery or BYD of fraud, and the audit documents did not specify penalties or reimbursement requirements.
BYD, another major Chinese EV manufacturer involved in the audit, did not respond to requests for comment. - Reuters
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