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Strategies & Market Trends : BYD Co. LTD (BYDDY, BYDDF)

BYDDY 13.54

-0.3%

Oct 28 3:59 PM EDT

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From: Savant	7/11/2025 12:48:03 PM
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China’s Chery and BYD improperly claimed a combined $53 million in government subsidies for eco-friendly vehicles sold in the five years to 2020, accounting for nearly 60 percent of improper claims, an industry ministry audit found. The audit documents did not lay out any penalties or mention reimbursement, but the government has previously said automakers will have to repay subsidies for vehicles found not to have met mileage requirements. The audit found 21,725 vehicles should not have received subsidies that totaled 864.9 million yuan ($121 million), documents published by the Ministry of Industry and Information Technology last month showed. Chery, BYD to pay back govt for improper claims \| The Manila Times

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