27 Jan '16, 4pm

China Trims Electrified Car Incentives As ‘Scoundrels’ Grab What They Can https://t.co/ES6ej1JTCV

China Trims Electrified Car Incentives As ‘Scoundrels’ Grab What They Can https://t.co/ES6ej1JTCV

Last year China tripled its plug-in electrified vehicle (PEV) sales surpassing U.S. sales for the first time while it was at it, but some of those numbers were allegedly padded. According to a report by the Economic Observer – noting discrepancies between reported sales and vehicle registrations – tens of thousands of “new energy vehicles” (NEVs) “disappeared” as soon as they were newly minted in Chinese production plants. Of course these “ghost” cars did not really do a “vanishing act,” says Shanghai Daily , but allegations are they were fraudulently reported as incentive-eligible cars and what did in fact disappear was government money to their “unscrupulous” manufacturers. “Instead of supporting a critical emerging industry, it became a temptation for scoundrels,” said Shanghai Daily assessing a system in which Chinese central planners have sought to jump start technolo...

Full article: http://www.hybridcars.com/china-trims-electrified-car-inc...

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