China's Chery denies allegations of fraudulent subsidy declarations
An audit by the Ministry of Industry and Information Technology disqualified declarations by Chery and BYD 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.
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