ELECTRIC CARS FRAUD * China
* Beijing - Fraud leaves China's electric car demand in doubt
Suzhou Gemsea Coach Manufacturing Co., operating out of a blue metal shed west of Shanghai, told the Chinese government it produced 3,700 electric vehicles last year -- almost all of them in one month... That month was December. When inspectors, accompanied by state TV reporters, swarmed the site in Suzhou to verify the numbers, they found a few Gemsea brand vans parked outside and hardly any modern assembly equipment inside... The investigation casts doubt on the accuracy of reported Chinese electric-vehicle sales that are double those in the U.S. ... As the Beijing Auto Show approaches next week, the government is examining whether it doled out money for fake transactions by domestic companies, with the answer potentially curbing bullish expansion plans by Tesla Motors Inc., BYD Co. and other makers... China’s regulators have proposed cutting subsidies for electric buses and imposing a price ceiling on passenger vehicles that qualify for incentives. It’s also considering a California-like system in which carmakers can earn credits by selling cleaner vehicles or buying them from one another to stay in compliance with government objectives...
(Photo: China probes subsidies fraud) -- Beijing, China - Bloomberg, by Jie Ma / Craig Trudell (SEE VIDEO too) - April 21, 2016
Labels: electric busmakers news.